Smart Global (NASDAQ:SGH) Price Target Raised to $30.00

Smart Global (NASDAQ:SGH) had its target price increased by Barclays from $24.00 to $30.00 in a research report report published on Wednesday morning, The Fly reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. TheStreet cut shares of UDR from a b rating to a c rating in a report on Tuesday, April 30th. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Deutsche Bank increased their target price on shares of Welltower from $61.00 to $71.00 and gave the stock a hold rating in a report on Friday, March 29th. Roth Capital reduced their target price on shares of Smart Global from $40.00 to $30.00 and set a buy rating for the company in a report on Friday, March 29th. Finally, BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a report on Saturday, June 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Smart Global has an average rating of Buy and an average price target of $35.00.

Shares of NASDAQ:SGH opened at $31.47 on Wednesday. Smart Global has a 52 week low of $16.94 and a 52 week high of $35.10. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.24 and a quick ratio of 1.66. The company has a market capitalization of $701.44 million, a P/E ratio of 7.58, a PEG ratio of 0.70 and a beta of 1.21. The firm has a 50 day moving average price of $20.53.

Smart Global (NASDAQ:SGH) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The company had revenue of $235.70 million for the quarter, compared to the consensus estimate of $264.98 million. During the same period in the prior year, the company earned $1.84 EPS. The firm’s revenue was down 29.7% on a year-over-year basis. As a group, equities analysts forecast that Smart Global will post 2.91 earnings per share for the current year.

In other Smart Global news, VP Bruce M. Goldberg sold 2,381 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $18.39, for a total value of $43,786.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Iain Mackenzie sold 10,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $21.31, for a total transaction of $213,100.00. The disclosure for this sale can be found here. Insiders have sold 14,381 shares of company stock valued at $301,147 in the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake in Smart Global by 265.6% in the fourth quarter. Rhumbline Advisers now owns 30,692 shares of the company’s stock valued at $912,000 after acquiring an additional 22,296 shares during the last quarter. Yorktown Management & Research Co Inc lifted its stake in Smart Global by 7.6% in the first quarter. Yorktown Management & Research Co Inc now owns 18,050 shares of the company’s stock valued at $347,000 after acquiring an additional 1,276 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Smart Global by 116.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,232 shares of the company’s stock valued at $66,000 after acquiring an additional 1,202 shares during the last quarter. United Services Automobile Association lifted its stake in Smart Global by 8.5% in the fourth quarter. United Services Automobile Association now owns 24,469 shares of the company’s stock valued at $727,000 after acquiring an additional 1,925 shares during the last quarter. Finally, Park West Asset Management LLC acquired a new stake in Smart Global in the fourth quarter valued at $59,400,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

About Smart Global

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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