Smart Global (NASDAQ:SGH) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Smart Global (NASDAQ:SGH) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on SGH. Deutsche Bank raised their target price on Welltower from $61.00 to $71.00 and gave the company a hold rating in a research note on Friday, March 29th. TheStreet lowered UDR from a b rating to a c rating in a research report on Tuesday, April 30th. ValuEngine raised Zillow Group from a hold rating to a buy rating in a research note on Thursday, July 11th. Needham & Company LLC reduced their price objective on to $10.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Finally, Barclays increased their price objective on Smart Global from $24.00 to $30.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $37.00.

Shares of SGH stock opened at $31.09 on Wednesday. The company’s 50-day moving average price is $22.46. Smart Global has a fifty-two week low of $16.94 and a fifty-two week high of $35.10. The company has a market capitalization of $721.29 million, a PE ratio of 5.18, a P/E/G ratio of 0.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.24 and a quick ratio of 1.66.

Smart Global (NASDAQ:SGH) last announced its earnings results on Thursday, June 27th. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). Smart Global had a net margin of 5.77% and a return on equity of 40.99%. The firm had revenue of $235.70 million for the quarter, compared to the consensus estimate of $264.98 million. During the same period in the prior year, the business earned $1.84 EPS. The company’s quarterly revenue was down 29.7% compared to the same quarter last year. Sell-side analysts expect that Smart Global will post 2.92 EPS for the current year.

In other news, VP Bruce M. Goldberg sold 2,381 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $18.39, for a total transaction of $43,786.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Bruce M. Goldberg sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.13, for a total value of $44,260.00. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new position in shares of Smart Global during the 1st quarter valued at about $47,000. PNC Financial Services Group Inc. grew its stake in shares of Smart Global by 116.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,232 shares of the company’s stock worth $66,000 after purchasing an additional 1,202 shares during the period. First Quadrant L P CA acquired a new stake in shares of Smart Global during the first quarter worth $83,000. Meeder Asset Management Inc. grew its stake in shares of Smart Global by 54.0% during the first quarter. Meeder Asset Management Inc. now owns 5,557 shares of the company’s stock worth $108,000 after purchasing an additional 1,948 shares during the period. Finally, New York State Teachers Retirement System grew its stake in shares of Smart Global by 36.3% during the first quarter. New York State Teachers Retirement System now owns 8,551 shares of the company’s stock worth $164,000 after purchasing an additional 2,276 shares during the period. 97.15% of the stock is owned by institutional investors.

About Smart Global

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.

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Analyst Recommendations for Smart Global (NASDAQ:SGH)

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