Crosslink Capital Inc. Buys New Stake in Smart Global Holdings Inc (SGH)

Crosslink Capital Inc. bought a new stake in shares of Smart Global Holdings Inc (NYSE:SGH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 145,642 shares of the company’s stock, valued at approximately $2,358,000. Crosslink Capital Inc. owned approximately 0.67% of Smart Global Holdings as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Stifel Financial Corp purchased a new position in Smart Global Holdings during the second quarter valued at $169,000. Spark Investment Management LLC purchased a new position in Smart Global Holdings during the second quarter valued at $184,000. Laurion Capital Management LP purchased a new position in Smart Global Holdings during the second quarter valued at $324,000. Goldman Sachs Group Inc. purchased a new position in Smart Global Holdings during the second quarter valued at $429,000. Finally, Symphony Asset Management LLC purchased a new position in Smart Global Holdings during the second quarter valued at $1,286,000.

Smart Global Holdings Inc (NYSE SGH) traded up 0.03% during midday trading on Thursday, reaching $36.94. The company’s stock had a trading volume of 241,650 shares. The stock’s 50 day moving average price is $23.80 and its 200-day moving average price is $18.94. Smart Global Holdings Inc has a one year low of $11.50 and a one year high of $38.24. The stock’s market cap is $791.77 million.

Smart Global Holdings (NYSE:SGH) last posted its earnings results on Thursday, September 28th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.15. Smart Global Holdings had a net margin of 3.84% and a return on equity of 132.75%. The business had revenue of $223.00 million for the quarter, compared to analyst estimates of $210.54 million. The firm’s revenue was up 52.5% on a year-over-year basis. On average, analysts forecast that Smart Global Holdings Inc will post $3.12 EPS for the current fiscal year.

Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Smart Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Roth Capital reiterated a “buy” rating and set a $30.00 target price (up from $24.00) on shares of Smart Global Holdings in a research report on Friday, September 8th. Needham & Company LLC lifted their target price on Smart Global Holdings from $33.00 to $40.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Jefferies Group LLC assumed coverage on Smart Global Holdings in a research report on Monday, June 19th. They set a “buy” rating and a $21.00 target price on the stock. Finally, Barclays PLC assumed coverage on Smart Global Holdings in a research report on Monday, June 19th. They set an “overweight” rating and a $19.00 target price on the stock. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Smart Global Holdings presently has a consensus rating of “Buy” and a consensus price target of $33.21.

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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.

Institutional Ownership by Quarter for Smart Global Holdings (NYSE:SGH)

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