SMART Global’s (SGH) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SMART Global (NASDAQ:SGH) in a research note issued to investors on Monday, Benzinga reports. Needham & Company LLC currently has a $27.00 price target on the stock.

Separately, Stifel Nicolaus boosted their price objective on shares of SMART Global from $26.00 to $27.50 and gave the company a buy rating in a research report on Wednesday, April 10th.

SMART Global Stock Down 0.9 %

SGH opened at $17.76 on Monday. The company has a market cap of $928.79 million, a P/E ratio of -4.83 and a beta of 1.74. SMART Global has a 12 month low of $12.66 and a 12 month high of $29.99. The business’s 50-day moving average price is $22.41 and its 200-day moving average price is $19.65. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80.

Insider Transactions at SMART Global

In related news, CEO Mark Adams acquired 10,000 shares of SMART Global stock in a transaction dated Thursday, April 11th. The stock was purchased at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the purchase, the chief executive officer now directly owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Mark Adams purchased 10,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the transaction, the chief executive officer now directly owns 29,640 shares in the company, valued at approximately $556,935.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Penny Herscher sold 2,525 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the completion of the transaction, the director now directly owns 12,713 shares of the company’s stock, valued at approximately $287,568.06. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SMART Global

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of SMART Global by 813.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 30,127 shares of the company’s stock worth $793,000 after buying an additional 26,830 shares during the period. Griffin Asset Management Inc. bought a new stake in shares of SMART Global in the 1st quarter valued at about $279,000. GAMMA Investing LLC grew its position in shares of SMART Global by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after buying an additional 469 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of SMART Global during the 1st quarter worth approximately $896,000. Finally, Nomura Holdings Inc. lifted its position in SMART Global by 41.1% during the fourth quarter. Nomura Holdings Inc. now owns 234,662 shares of the company’s stock valued at $4,442,000 after acquiring an additional 68,315 shares during the last quarter.

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.