SMART Global Holdings, Inc. (SGH) PT Raised to $38.00 at Deutsche Bank AG

SMART Global Holdings, Inc. (NASDAQ:SGH) had its price target hoisted by Deutsche Bank AG from $35.00 to $38.00 in a research report released on Thursday. Deutsche Bank AG currently has a buy rating on the stock.

SGH has been the topic of several other research reports. Zacks Investment Research downgraded SMART Global Holdings from a buy rating to a hold rating in a report on Tuesday, August 22nd. Roth Capital reaffirmed 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 raised their target price on 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. Citigroup Inc. raised their target price on 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. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $32.00 target price (up from $27.00) on shares of SMART Global Holdings in a research report on Thursday, September 28th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $36.06.

Shares of SMART Global Holdings (SGH) opened at $36.41 on Thursday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.92 and a current ratio of 1.45. SMART Global Holdings has a twelve month low of $11.50 and a twelve month high of $38.24.

SMART Global Holdings (NASDAQ:SGH) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.15. The firm had revenue of $223.00 million for the quarter, compared to analyst estimates of $210.54 million. SMART Global Holdings’s revenue for the quarter was up 52.5% on a year-over-year basis. equities analysts anticipate that SMART Global Holdings will post 3.45 earnings per share for the current year.

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A number of large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in SMART Global Holdings during the 3rd quarter worth $379,000. California State Teachers Retirement System bought a new position in SMART Global Holdings during the 3rd quarter worth $868,000. OxFORD Asset Management LLP bought a new position in shares of SMART Global Holdings in the 3rd quarter worth about $304,000. Schwab Charles Investment Management Inc. bought a new position in shares of SMART Global Holdings in the 3rd quarter worth about $919,000. Finally, Citadel Advisors LLC bought a new position in shares of SMART Global Holdings in the 3rd quarter worth about $573,000. 27.39% of the stock is owned by institutional investors and hedge funds.

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 (NASDAQ:SGH)

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