Principal Financial Group Inc. raised its position in shares of Smart Global Holdings Inc (NASDAQ:SGH) by 960.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,744 shares of the company’s stock after buying an additional 117,514 shares during the quarter. Principal Financial Group Inc. owned about 0.57% of Smart Global worth $3,853,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of Smart Global by 265.6% in the 4th quarter. Rhumbline Advisers now owns 30,692 shares of the company’s stock valued at $912,000 after purchasing an additional 22,296 shares during the last quarter. Vanguard Group Inc raised its position in shares of Smart Global by 33.4% in the 3rd quarter. Vanguard Group Inc now owns 1,667,132 shares of the company’s stock valued at $47,913,000 after purchasing an additional 417,170 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Smart Global in the 3rd quarter valued at approximately $211,000. Boston Partners raised its position in shares of Smart Global by 73.3% in the 4th quarter. Boston Partners now owns 630,483 shares of the company’s stock valued at $18,725,000 after purchasing an additional 266,631 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Smart Global by 7,691.3% in the 4th quarter. Bank of Montreal Can now owns 5,376 shares of the company’s stock valued at $160,000 after purchasing an additional 5,307 shares during the last quarter. 99.44% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on SGH shares. Barclays reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Smart Global in a research report on Thursday, January 10th. Needham & Company LLC reissued a “hold” rating on shares of Smart Global in a research note on Wednesday, January 16th. Stifel Nicolaus dropped their price target on shares of Smart Global from $62.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, January 9th. BidaskClub raised shares of Smart Global from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, ValuEngine cut shares of Smart Global from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.00.
NASDAQ SGH opened at $21.94 on Wednesday. The stock has a market capitalization of $487.20 million, a price-to-earnings ratio of 3.84, a PEG ratio of 0.47 and a beta of 0.26. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.92 and a quick ratio of 1.39. Smart Global Holdings Inc has a 1-year low of $18.27 and a 1-year high of $51.63.
Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, March 28th. The company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.12). Smart Global had a return on equity of 61.87% and a net margin of 7.49%. The company had revenue of $304.10 million for the quarter, compared to analyst estimates of $317.27 million. During the same period in the prior year, the firm posted $1.73 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Smart Global Holdings Inc will post 3.03 earnings per share for the current fiscal year.
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Smart Global Profile
SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.
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