SMART Global Holdings, Inc. (NASDAQ:SGH) Insider Joseph Gates Clark Sells 2,527 Shares

SMART Global Holdings, Inc. (NASDAQ:SGH) insider Joseph Gates Clark sold 2,527 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $23.67, for a total transaction of $59,814.09. Following the transaction, the insider now owns 82,518 shares of the company’s stock, valued at approximately $1,953,201.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Joseph Gates Clark also recently made the following trade(s):

• On Wednesday, July 10th, Joseph Gates Clark sold 5,000 shares of SMART Global stock. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00.

SMART Global Stock Up 1.8 %

Shares of SGH stock traded up $0.41 during trading on Friday, reaching $23.17. The company’s stock had a trading volume of 813,574 shares, compared to its average volume of 1,091,734. The business has a fifty day moving average price of $22.90 and a 200-day moving average price of $21.95. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -7.54 and a beta of 1.69. SMART Global Holdings, Inc. has a one year low of $12.66 and a one year high of $29.81.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $300.58 million for the quarter, compared to analyst estimates of $300.00 million. SMART Global had a negative net margin of 14.35% and a positive return on equity of 8.86%. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Analysts anticipate that SMART Global Holdings, Inc. will post 0.7 earnings per share for the current year.

Institutional Trading of SMART Global

A number of institutional investors have recently made changes to their positions in SGH. GAMMA Investing LLC lifted its position in shares of SMART Global by 42.9% in the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after purchasing an additional 469 shares in the last quarter. TFO Wealth Partners LLC lifted its position in shares of SMART Global by 32,469.2% in the fourth quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock worth $80,000 after purchasing an additional 4,221 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of SMART Global in the first quarter worth $235,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in SMART Global by 48.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,963 shares of the company’s stock worth $245,000 after acquiring an additional 4,253 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in SMART Global during the first quarter worth $274,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 price target on shares of SMART Global in a report on Wednesday, July 3rd. Stifel Nicolaus upped their price target on shares of SMART Global from $27.50 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Needham & Company LLC upped their price target on shares of SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays upped their price target on shares of SMART Global from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SMART Global presently has an average rating of “Buy” and a consensus price target of $32.25.

About SMART Global

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.