SMART Global Holdings, Inc. (SGH) Given New $40.00 Price Target at Stifel Nicolaus

SMART Global Holdings, Inc. (NASDAQ:SGH) had its price objective hoisted by Stifel Nicolaus from $35.00 to $40.00 in a report issued on Thursday morning. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. Deutsche Bank AG reaffirmed a buy rating and issued a $35.00 price objective on shares of SMART Global Holdings in a research report on Tuesday, November 7th. Citigroup Inc. raised their price target on shares of SMART Global Holdings to $35.00 and gave the stock a buy rating in a research report on Tuesday, November 7th. They noted that the move was a valuation call. Roth Capital raised their price target on shares of SMART Global Holdings from $30.00 to $42.00 and gave the stock a buy rating in a research report on Wednesday, October 11th. Needham & Company LLC raised their price target on shares of SMART Global Holdings from $33.00 to $40.00 and gave the stock a strong-buy rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research raised shares of SMART Global Holdings from a hold rating to a strong-buy rating and set a $34.00 price target for the company in a research report on Thursday, October 5th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. SMART Global Holdings presently has an average rating of Buy and an average price target of $36.06.

Shares of SMART Global Holdings (NASDAQ:SGH) traded up $0.43 during trading on Thursday, hitting $36.41. 361,000 shares of the company traded hands, compared to its average volume of 219,492. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 1.87. SMART Global Holdings has a 52-week low of $11.50 and a 52-week high of $38.24.

SMART Global Holdings (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, September 28th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.15. The company had revenue of $223.00 million during the quarter, compared to analysts’ expectations of $210.54 million. The firm’s quarterly revenue was up 52.5% on a year-over-year basis. analysts expect that SMART Global Holdings will post 3.02 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of SMART Global Holdings during the 3rd quarter worth approximately $103,000. Legal & General Group Plc acquired a new stake in SMART Global Holdings in the 3rd quarter valued at $133,000. Strs Ohio acquired a new stake in SMART Global Holdings in the 3rd quarter valued at $158,000. Macquarie Group Ltd. acquired a new stake in SMART Global Holdings in the 3rd quarter valued at $166,000. Finally, Nationwide Fund Advisors acquired a new stake in SMART Global Holdings in the 3rd quarter valued at $268,000. 28.74% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for SMART Global Holdings (NASDAQ:SGH)

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