Needham & Company LLC reaffirmed their buy rating on shares of Smart Global (NASDAQ:SGH) in a research note issued to investors on Thursday morning. The brokerage currently has a $46.00 price objective on the stock.

Several other research analysts also recently commented on the company. Deutsche Bank reissued a buy rating and issued a $35.00 price objective on shares of Smart Global in a research note on Tuesday, November 7th. Roth Capital increased their price objective on Smart Global from $30.00 to $42.00 and gave the company a buy rating in a research note on Wednesday, October 11th. Zacks Investment Research raised Smart Global from a hold rating to a strong-buy rating and set a $34.00 price objective for the company in a research note on Thursday, October 5th. Stifel Nicolaus reissued a buy rating and issued a $47.00 price objective (up from $40.00) on shares of Smart Global in a research note on Friday, December 22nd. Finally, Jefferies Group reissued a buy rating and issued a $28.50 price objective (up from $23.00) on shares of Smart Global in a research note on Monday, October 2nd. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Smart Global has a consensus rating of Buy and a consensus target price of $39.19.

Shares of Smart Global (SGH) traded up $1.39 during mid-day trading on Thursday, hitting $38.88. The stock had a trading volume of 511,539 shares, compared to its average volume of 693,226. The company has a current ratio of 1.43, a quick ratio of 0.97 and a debt-to-equity ratio of 1.50. The firm has a market cap of $877.03 and a P/E ratio of 70.69. Smart Global has a twelve month low of $11.50 and a twelve month high of $43.15.

Smart Global (NASDAQ:SGH) last announced its earnings results on Thursday, December 21st. The company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.13. The business had revenue of $265.40 million for the quarter, compared to analyst estimates of $255.03 million. The firm’s revenue for the quarter was up 66.6% on a year-over-year basis. research analysts forecast that Smart Global will post 4.76 EPS for the current year.

In other Smart Global news, VP Jack A. Pacheco sold 7,500 shares of the company’s stock in a transaction 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 through this hyperlink. Also, VP Alan Marten sold 25,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $32.10, for a total value of $802,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,328,157 shares of company stock valued at $107,100,247. 6.90% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new stake in Smart Global in the 2nd quarter valued at $429,000. Citadel Advisors LLC purchased a new stake in Smart Global in the 3rd quarter valued at $573,000. Rhumbline Advisers purchased a new stake in Smart Global in the 3rd quarter valued at $387,000. American International Group Inc. purchased a new stake in Smart Global in the 3rd quarter valued at $362,000. Finally, Empyrean Capital Partners LP purchased a new stake in Smart Global in the 2nd quarter valued at $1,741,000. Institutional investors own 91.84% 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.

Analyst Recommendations for Smart Global (NASDAQ:SGH)

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