Alambic Investment Management L.P. increased its position in shares of Smart Global Holdings Inc (NASDAQ:SGH) by 57.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,384 shares of the company’s stock after buying an additional 24,969 shares during the period. Alambic Investment Management L.P.’s holdings in Smart Global were worth $2,305,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Smart Global in the 3rd quarter worth about $103,000. Legal & General Group Plc bought a new stake in shares of Smart Global in the 3rd quarter worth about $133,000. Strs Ohio bought a new stake in shares of Smart Global in the 3rd quarter worth about $158,000. Macquarie Group Ltd. bought a new stake in shares of Smart Global in the 3rd quarter worth about $166,000. Finally, Stifel Financial Corp bought a new stake in shares of Smart Global in the 2nd quarter worth about $169,000. 91.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Smart Global Holdings Inc (NASDAQ SGH) opened at $32.57 on Monday. Smart Global Holdings Inc has a 1 year low of $11.50 and a 1 year high of $43.15. 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 $708.43 and a PE ratio of 59.22.
Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $46.00 target price on shares of Smart Global in a research report on Thursday, January 18th. Stifel Nicolaus boosted their target price on shares of Smart Global from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Saturday, December 30th. Roth Capital boosted their target price on shares of Smart Global to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. Deutsche Bank boosted their target price on shares of Smart Global to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. Finally, Citigroup boosted their target price on shares of Smart Global 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. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.19.
In other news, SVP Kiwan Kim sold 6,874 shares of Smart Global stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $35.86, for a total value of $246,501.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandeep Nayyar sold 7,148 shares of Smart Global stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $35.20, for a total transaction of $251,609.60. The disclosure for this sale can be found here. Insiders sold a total of 3,360,955 shares of company stock valued at $108,297,601 over the last ninety days. Company insiders own 6.90% of the company’s stock.
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Smart Global 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.
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