SMART Global Holdings, Inc. (NASDAQ:SGH) COO Sells $266,946.68 in Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $20.02, for a total transaction of $266,946.68. Following the completion of the sale, the chief operating officer now owns 211,896 shares of the company’s stock, valued at approximately $4,242,157.92. The transaction was disclosed in a filing with the SEC, which is available through this link.

SMART Global Stock Up 6.4 %

SMART Global stock opened at $21.15 on Friday. The firm has a 50 day moving average price of $20.54 and a 200-day moving average price of $21.56. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. SMART Global Holdings, Inc. has a twelve month low of $12.66 and a twelve month high of $29.81. The company has a market capitalization of $1.12 billion, a P/E ratio of -6.87 and a beta of 1.67.

SMART Global (NASDAQ:SGH) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. The business had revenue of $300.58 million during the quarter, compared to analyst estimates of $300.00 million. SMART Global had a positive return on equity of 8.86% and a negative net margin of 14.35%. SMART Global’s revenue was down 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. As a group, equities analysts predict that SMART Global Holdings, Inc. will post 0.7 EPS for the current year.

Institutional Investors Weigh In On SMART Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGH. UBS Group AG increased its stake in shares of SMART Global by 7,076.7% in the fourth quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after purchasing an additional 850,764 shares in the last quarter. Vanguard Group Inc. boosted its holdings in SMART Global by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 6,835,008 shares of the company’s stock worth $129,387,000 after buying an additional 810,022 shares during the period. Hennessy Advisors Inc. purchased a new position in SMART Global in the 2nd quarter valued at approximately $9,205,000. American Century Companies Inc. raised its holdings in SMART Global by 69.5% during the 2nd quarter. American Century Companies Inc. now owns 802,527 shares of the company’s stock valued at $18,354,000 after acquiring an additional 328,934 shares during the period. Finally, 1492 Capital Management LLC purchased a new stake in shares of SMART Global during the fourth quarter worth $4,153,000.

Analyst Upgrades and Downgrades

SGH has been the topic of several analyst reports. Stifel Nicolaus boosted their price target on shares of SMART Global from $27.50 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Needham & Company LLC boosted their target price on SMART Global from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Barclays increased their price target on SMART Global from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price objective on shares of SMART Global in a research report on Wednesday, July 3rd. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, SMART Global presently has an average rating of “Buy” and an average price target of $32.25.

SMART Global Company Profile

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.