Cornercap Investment Counsel Inc. purchased a new position in shares of Smart Global Holdings Inc (NASDAQ:SGH) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,355 shares of the company’s stock, valued at approximately $854,000.
Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new stake in Smart Global during the second quarter worth about $429,000. Citadel Advisors LLC acquired a new stake in Smart Global during the third quarter worth about $573,000. California State Teachers Retirement System acquired a new stake in Smart Global during the third quarter worth about $868,000. American International Group Inc. acquired a new stake in Smart Global during the third quarter worth about $362,000. Finally, Rhumbline Advisers acquired a new stake in Smart Global during the third quarter worth about $387,000. Institutional investors own 87.00% of the company’s stock.
In other Smart Global news, SVP Kiwan Kim sold 52,835 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $35.62, for a total transaction of $1,881,982.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jack A. Pacheco sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $33.40, for a total value of $250,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,833 shares of company stock valued at $3,962,951. Insiders own 6.90% of the company’s stock.
Smart Global (NASDAQ:SGH) last posted its earnings results on Thursday, December 21st. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.13. The company had revenue of $265.40 million during the quarter, compared to analyst estimates of $255.03 million. The company’s quarterly revenue was up 66.6% compared to the same quarter last year. analysts expect that Smart Global Holdings Inc will post 4.76 EPS for the current year.
Several equities research analysts have commented on the company. BidaskClub upgraded Smart Global from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Stifel Nicolaus upped their price target on Smart Global from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 16th. Zacks Investment Research lowered Smart Global from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Deutsche Bank upped their price target on Smart Global from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, November 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $46.00 target price on shares of Smart Global in a research note on Thursday, January 18th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Smart Global has a consensus rating of “Buy” and an average target price of $39.19.
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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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