Smart Global (SGH) Price Target Raised to $50.00 at Roth Capital
Smart Global (NASDAQ:SGH) had its price objective lifted by Roth Capital to $50.00 in a report issued on Friday. The brokerage presently has a “buy” rating on the stock. Roth Capital’s target price points to a potential upside of 46.07% from the stock’s previous close.
SGH has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $33.00 price objective (up previously from $23.00) on shares of Smart Global in a research note on Friday, September 29th. Deutsche Bank lifted their price target on shares of Smart Global to $45.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus lifted their price target on shares of Smart Global from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. Barclays lifted their price target on shares of Smart Global from $19.00 to $28.00 and gave the company a “positive” rating in a research note on Friday, September 29th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $28.50 target price (up previously from $23.00) on shares of Smart Global in a research note on Monday, October 2nd. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Smart Global presently has an average rating of “Buy” and an average target price of $38.81.
Smart Global (SGH) traded up $3.12 during midday trading on Friday, hitting $34.23. 2,443,897 shares of the stock were exchanged, compared to its average volume of 946,902. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 1.87. Smart Global has a 12-month low of $11.50 and a 12-month high of $43.15.
Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, December 21st. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ 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 firm’s quarterly revenue was up 66.6% on a year-over-year basis. equities research analysts anticipate that Smart Global will post 3.59 earnings per share for the current year.
In other Smart Global news, VP Jack A. Pacheco sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $31.06, for a total value of $232,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sandeep Nayyar sold 7,148 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $35.20, for a total value of $251,609.60. The disclosure for this sale can be found here. Insiders sold 3,264,122 shares of company stock valued at $104,818,100 over the last ninety days.
A number of large investors have recently added to or reduced their stakes in SGH. Cubist Systematic Strategies LLC acquired a new stake in Smart Global in the third quarter valued at $379,000. California State Teachers Retirement System acquired a new stake in Smart Global in the third quarter valued at $868,000. OxFORD Asset Management LLP acquired a new stake in Smart Global in the third quarter valued at $304,000. Schwab Charles Investment Management Inc. acquired a new stake in Smart Global in the third quarter valued at $919,000. Finally, Citadel Advisors LLC acquired a new stake in Smart Global in the third quarter valued at $573,000. Hedge funds and other institutional investors own 92.18% 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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