Smart Global Holdings Inc (SGH) Short Interest Update

Smart Global Holdings Inc (NASDAQ:SGH) was the target of a significant decline in short interest during the month of December. As of December 29th, there was short interest totalling 145,704 shares, a decline of 77.2% from the December 15th total of 638,093 shares. Based on an average daily volume of 815,622 shares, the days-to-cover ratio is presently 0.2 days. Approximately 1.6% of the company’s stock are short sold.

Several research firms recently weighed in on SGH. Stifel Nicolaus boosted their price target on shares of Smart Global from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Saturday, December 30th. Needham & Company LLC boosted their price target on shares of Smart Global from $43.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Tuesday, December 26th. Roth Capital boosted their price target on shares of Smart Global to $50.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Deutsche Bank boosted their price target on shares of Smart Global to $45.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Finally, Citigroup boosted their target price on shares of Smart Global 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. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $39.19.

Smart Global (SGH) opened at $35.75 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.43 and a quick ratio of 0.97. The firm has a market cap of $777.59 and a PE ratio of 65.00. Smart Global has a 52 week low of $11.50 and a 52 week high of $43.15.

Smart Global (NASDAQ:SGH) last released its earnings results on Thursday, December 21st. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.13. The company had revenue of $265.40 million during the quarter, compared to analysts’ expectations of $255.03 million. The company’s revenue for the quarter was up 66.6% compared to the same quarter last year. equities research analysts anticipate that Smart Global will post 4.76 EPS for the current year.

In related news, CEO Iain Mackenzie sold 132,045 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $32.10, for a total transaction of $4,238,644.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kiwan Kim sold 52,835 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $35.62, for a total transaction of $1,881,982.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,319,457 shares of company stock worth $106,789,483. 6.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. purchased a new position in Smart Global in the second quarter valued at about $429,000. Citadel Advisors LLC bought a new stake in shares of Smart Global in the third quarter valued at approximately $573,000. Rhumbline Advisers bought a new stake in shares of Smart Global in the third quarter valued at approximately $387,000. American International Group Inc. bought a new stake in shares of Smart Global in the third quarter valued at approximately $362,000. Finally, Empyrean Capital Partners LP bought a new stake in shares of Smart Global in the second quarter valued at approximately $1,741,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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About Smart Global

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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