Smart Global Holdings Inc (NYSE:SGH) had its target price increased by Roth Capital from $30.00 to $42.00 in a research report sent to investors on Wednesday. They currently have a buy rating on the stock.
A number of other equities research analysts have also commented on the company. Needham & Company LLC increased their price target on Smart Global Holdings from $33.00 to $40.00 and gave the stock a strong-buy rating in a research report on Wednesday. Zacks Investment Research upgraded Smart Global Holdings from a hold rating to a strong-buy rating and set a $34.00 price objective on the stock in a research report on Thursday, October 5th. Deutsche Bank AG reiterated a buy rating and issued a $28.00 price objective (up from $25.00) on shares of Smart Global Holdings in a research report on Monday, October 2nd. Jefferies Group LLC reiterated a buy rating and issued a $28.50 price objective (up from $23.00) on shares of Smart Global Holdings in a research report on Monday, October 2nd. Finally, Barclays PLC increased their price objective on Smart Global Holdings from $19.00 to $28.00 and gave the company a positive rating in a research report on Friday, September 29th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $33.21.
Smart Global Holdings (NYSE:SGH) last released 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 analyst estimates of $210.54 million. Smart Global Holdings had a return on equity of 132.75% and a net margin of 3.84%. Smart Global Holdings’s revenue for the quarter was up 52.5% on a year-over-year basis.
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Several hedge funds have recently bought and sold shares of the company. Stifel Financial Corp acquired a new position in shares of Smart Global Holdings in the 2nd quarter valued at $169,000. Spark Investment Management LLC acquired a new position in shares of Smart Global Holdings in the 2nd quarter valued at $184,000. Laurion Capital Management LP acquired a new position in shares of Smart Global Holdings in the 2nd quarter valued at $324,000. Goldman Sachs Group Inc. acquired a new position in shares of Smart Global Holdings in the 2nd quarter valued at $429,000. Finally, Symphony Asset Management LLC acquired a new position in shares of Smart Global Holdings in the 2nd quarter valued at $1,286,000.
About Smart Global Holdings
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.
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