Smart Global Holdings’ (SGH) “Buy” Rating Reiterated at Roth Capital

Roth Capital reissued their buy rating on shares of Smart Global Holdings Inc (NYSE:SGH) in a report published on Friday. They currently have a $30.00 price objective on the stock, up from their previous price objective of $24.00.

Several other brokerages have also weighed in on SGH. Zacks Investment Research lowered Smart Global Holdings from a buy rating to a hold rating in a research note on Tuesday, August 22nd. Jefferies Group LLC restated a buy rating and issued a $23.00 price target (up previously from $21.00) on shares of Smart Global Holdings in a research note on Sunday, June 25th. Needham & Company LLC began coverage on Smart Global Holdings in a research note on Monday, June 19th. They issued a strong-buy rating and a $20.00 price target for the company. Deutsche Bank AG began coverage on Smart Global Holdings in a research note on Monday, June 19th. They issued a buy rating and a $18.00 price target for the company. Finally, Stifel Nicolaus began coverage on Smart Global Holdings in a research note on Monday, June 19th. They issued a buy rating and a $27.00 price target for the company. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $22.83.

Shares of Smart Global Holdings (SGH) opened at 22.45 on Friday. The company has a market cap of $486.65 million and a price-to-earnings ratio of 320.71. The firm’s 50-day moving average price is $18.77 and its 200 day moving average price is $16.83. Smart Global Holdings has a 12-month low of $11.50 and a 12-month high of $24.01.

Smart Global Holdings (NYSE:SGH) last announced its quarterly earnings results on Thursday, June 22nd. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.01. Smart Global Holdings had a net margin of 3.84% and a return on equity of 132.75%. The business had revenue of $206.97 million during the quarter, compared to analysts’ expectations of $202.87 million. The business’s revenue was up 38.3% on a year-over-year basis. On average, analysts predict that Smart Global Holdings will post $1.63 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in SGH. Stifel Financial Corp purchased a new position in shares of Smart Global Holdings in the 2nd quarter valued at about $169,000. Spark Investment Management LLC purchased a new position in shares of Smart Global Holdings in the 2nd quarter valued at about $184,000. Laurion Capital Management LP purchased a new position in shares of Smart Global Holdings in the 2nd quarter valued at about $324,000. Goldman Sachs Group Inc. purchased a new position in shares of Smart Global Holdings in the 2nd quarter valued at about $429,000. Finally, Symphony Asset Management LLC purchased a new position in shares of Smart Global Holdings in the 2nd quarter valued at about $1,286,000.

Smart Global Holdings Company Profile

Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.

Analyst Recommendations for Smart Global Holdings (NYSE:SGH)

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