Smart Global Holdings Inc’s (SGH) Lock-Up Period Will Expire on November 20th

Smart Global Holdings’ (NYSE:SGH) lock-up period is set to expire on Monday, November 20th. Smart Global Holdings had issued 5,300,000 shares in its public offering on May 24th. The total size of the offering was $58,300,000 based on an initial share price of $11.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Several research analysts recently weighed in on the stock. Roth Capital boosted their target price on shares of Smart Global Holdings from $30.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, October 11th. Needham & Company LLC boosted their target price on shares of Smart Global Holdings from $33.00 to $40.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 11th. Deutsche Bank AG reissued a “buy” rating and issued a $35.00 target price on shares of Smart Global Holdings in a research note on Tuesday, November 7th. Citigroup Inc. boosted their target price on shares of Smart Global Holdings to $35.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Smart Global Holdings from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Thursday, October 5th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Smart Global Holdings currently has a consensus rating of “Buy” and a consensus target price of $34.31.

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Smart Global Holdings (SGH) opened at $29.55 on Monday. Smart Global Holdings has a one year low of $11.50 and a one year high of $38.24.

Smart Global Holdings (NYSE:SGH) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.15. The company had revenue of $223.00 million during the quarter, compared to the consensus estimate of $210.54 million. Smart Global Holdings had a negative net margin of 4.58% and a negative return on equity of 74.60%. The business’s quarterly revenue was up 52.5% on a year-over-year basis.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Smart Global Holdings during the 3rd quarter worth approximately $103,000. Legal & General Group Plc acquired a new stake in Smart Global Holdings during the 3rd quarter worth approximately $133,000. Strs Ohio acquired a new stake in Smart Global Holdings during the 3rd quarter worth approximately $158,000. Macquarie Group Ltd. acquired a new stake in Smart Global Holdings during the 3rd quarter worth approximately $166,000. Finally, Nationwide Fund Advisors acquired a new stake in Smart Global Holdings during the 3rd quarter worth approximately $268,000.

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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