Smart Global Holdings Inc (SGH) Given New $40.00 Price Target at Needham & Company LLC

Smart Global Holdings Inc (NYSE:SGH) had its price target upped by Needham & Company LLC from $33.00 to $40.00 in a report released on Wednesday. The brokerage currently has a strong-buy rating on the stock.

A number of other equities analysts have also recently commented on SGH. Barclays PLC started coverage on Smart Global Holdings in a research note on Monday, June 19th. They issued an overweight rating and a $19.00 price target on the stock. Deutsche Bank AG started coverage on Smart Global Holdings in a research note on Monday, June 19th. They issued a buy rating and a $18.00 price target on the stock. Jefferies Group LLC started coverage on Smart Global Holdings in a research note on Monday, June 19th. They issued a buy rating and a $21.00 price target on the stock. Stifel Nicolaus started coverage on Smart Global Holdings in a research note on Monday, June 19th. They issued a buy rating and a $27.00 price target on the stock. Finally, Roth Capital started coverage on Smart Global Holdings in a research note on Monday, June 19th. They issued a buy rating and a $24.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $33.21.

Smart Global Holdings (NYSE:SGH) traded down 5.82% on Wednesday, hitting $34.78. The stock had a trading volume of 467,734 shares. Smart Global Holdings has a 1-year low of $11.50 and a 1-year high of $38.24. The stock’s market capitalization is $745.47 million. The company has a 50-day moving average price of $23.80 and a 200-day moving average price of $18.94.

Smart Global Holdings (NYSE:SGH) last announced its quarterly earnings results on Thursday, September 28th. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.15. The business had revenue of $223.00 million for the quarter, compared to analysts’ expectations of $210.54 million. Smart Global Holdings had a return on equity of 132.75% and a net margin of 3.84%. The firm’s revenue for the quarter was up 52.5% compared to the same quarter last year. Equities analysts predict that Smart Global Holdings will post $3.21 earnings per share for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the company. Symphony Asset Management LLC purchased a new position in shares of Smart Global Holdings during the second quarter valued at approximately $1,286,000. Canada Pension Plan Investment Board purchased a new position in shares of Smart Global Holdings during the second quarter valued at approximately $10,231,000. Empyrean Capital Partners LP purchased a new position in shares of Smart Global Holdings during the second quarter valued at approximately $1,741,000. Crosslink Capital Inc. purchased a new position in shares of Smart Global Holdings during the second quarter valued at approximately $2,358,000. Finally, Spark Investment Management LLC purchased a new position in shares of Smart Global Holdings during the second quarter valued at approximately $184,000.

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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