SMART Global - SGH Stock Forecast, Price & News

SMART Global Holdings, Inc. designs and manufactures specialty solutions for the computing, memory, and LED markets in the United states, Brazil, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platforms Solutions, and LED Solutions segments. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products. It also provides supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging. In addition, the company offers Penguin Computing solutions to customers in financial services, energy, government, social media, and education end markets; Penguin Edge solutions to government, telecommunications, health care, smart city, network edge, and industrial applications; and hardware and software products, including solutions based on the Open Compute Project. Further, it provides servers, software, integrated turn-key clusters, enterprise-grade storage, and networking in hardware or cloud-based solutions through Penguin-On-Demand; Open Compute Tundra Extreme Scale products; turn-key storage solutions; and rackmount servers and GPU accelerated computing platforms. Additionally, the company's LED Solutions offers application-optimized LEDs for lighting, video screens, and specialty lighting applications under the CreeLED brand. It sells its products directly to original equipment manufacturers, enterprise, government and other end customers through direct sales force, e-commerce, customer service representatives, on-site field application engineers, independent sales representatives, distributors, integrators, and resellers. The company was formerly known as Saleen Holdings, Inc. and changed its name to SMART Global Holdings, Inc. in August 2014. SMART Global Holdings, Inc. was founded in 1988 and is headquartered in Newark, California.

Analyst Upgrades and Downgrades

SGH has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of SMART Global from $40.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, June 30th. Stifel Nicolaus decreased their price objective on shares of SMART Global from $45.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, June 30th. Needham & Company LLC reduced their target price on shares of SMART Global from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, June 30th. Rosenblatt Securities reduced their target price on shares of SMART Global from $60.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, June 30th. Finally, TheStreet upgraded shares of SMART Global from a "c+" rating to a "b-" rating in a research report on Thursday, June 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $36.00.

SMART Global Trading Up 7.4 %

SMART Global stock opened at $20.59 on Friday. SMART Global has a 12-month low of $15.10 and a 12-month high of $37.25. The firm has a market capitalization of $1.03 billion, a PE ratio of 16.67 and a beta of 1.37. The stock's 50-day moving average price is $19.34. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 1.22.

SMART Global (NASDAQ:SGH - Get Rating) last released its quarterly earnings data on Wednesday, June 29th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.12. SMART Global had a net margin of 3.64% and a return on equity of 48.23%. The firm had revenue of $462.54 million during the quarter, compared to analysts' expectations of $455.02 million. During the same period last year, the business earned $0.54 earnings per share. SMART Global's revenue was up 5.7% compared to the same quarter last year. As a group, analysts forecast that SMART Global will post 2.77 EPS for the current year.

Insider Buying and Selling at SMART Global

In related news, CFO Ken Rizvi purchased 4,250 shares of the company's stock in a transaction on Tuesday, July 26th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $75,862.50. Following the completion of the transaction, the chief financial officer now directly owns 125,348 shares in the company, valued at $2,237,461.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Ken Rizvi purchased 4,250 shares of the company's stock in a transaction on Tuesday, July 26th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $75,862.50. Following the completion of the transaction, the chief financial officer now directly owns 125,348 shares in the company, valued at $2,237,461.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Adams purchased 10,000 shares of the company's stock in a transaction on Tuesday, July 26th. The shares were bought at an average price of $18.10 per share, with a total value of $181,000.00. Following the completion of the transaction, the chief executive officer now owns 915,255 shares of the company's stock, valued at $16,566,115.50. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company's stock.