Smart Global Holdings Inc (SGH) Position Lowered by Park West Asset Management LLC

Park West Asset Management LLC lessened its position in shares of Smart Global Holdings Inc (NASDAQ:SGH) by 44.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 775,992 shares of the company’s stock after selling 622,017 shares during the quarter. Smart Global comprises 1.7% of Park West Asset Management LLC’s holdings, making the stock its 18th biggest position. Park West Asset Management LLC owned 3.51% of Smart Global worth $38,675,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Compagnie Lombard Odier SCmA purchased a new stake in Smart Global during the 4th quarter worth approximately $101,000. Optimum Investment Advisors purchased a new stake in Smart Global during the 1st quarter worth approximately $128,000. C M Bidwell & Associates Ltd. purchased a new stake in Smart Global during the 1st quarter worth approximately $154,000. Tower Research Capital LLC TRC grew its position in Smart Global by 2,373.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,798 shares of the company’s stock worth $162,000 after purchasing an additional 4,604 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Smart Global during the 4th quarter worth approximately $278,000. Hedge funds and other institutional investors own 86.41% of the company’s stock.

In related news, VP Bruce M. Goldberg sold 2,500 shares of the stock in a transaction on Monday, March 19th. The shares were sold at an average price of $43.20, for a total transaction of $108,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Lake Sumeru (Offshore) Silver sold 2,000,000 shares of the stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $45.20, for a total transaction of $90,400,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,109,712 shares of company stock worth $95,403,066 over the last ninety days. Insiders own 6.90% of the company’s stock.

Several research firms have weighed in on SGH. Barclays boosted their target price on shares of Smart Global from $40.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, March 23rd. ValuEngine downgraded shares of Smart Global from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Smart Global from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Needham & Company LLC reissued a “buy” rating and set a $75.00 target price on shares of Smart Global in a research report on Tuesday. Finally, BidaskClub raised shares of Smart Global from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $52.69.

SGH stock opened at $43.51 on Thursday. The firm has a market capitalization of $957.42 million and a PE ratio of 21.33. The company has a current ratio of 1.62, a quick ratio of 1.08 and a debt-to-equity ratio of 0.97. Smart Global Holdings Inc has a 12 month low of $14.32 and a 12 month high of $56.69.

Smart Global (NASDAQ:SGH) last released its quarterly earnings data on Thursday, March 22nd. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.33 by $0.40. The business had revenue of $314.00 million for the quarter, compared to the consensus estimate of $290.06 million. Smart Global had a net margin of 5.50% and a return on equity of 100.66%. The firm’s revenue for the quarter was up 82.6% compared to the same quarter last year. research analysts expect that Smart Global Holdings Inc will post 5.94 EPS for the current fiscal year.

Smart Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

Institutional Ownership by Quarter for Smart Global (NASDAQ:SGH)

Receive News & Ratings for Smart Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Global and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply