Navellier & Associates Inc increased its position in shares of Smart Global Holdings Inc (NASDAQ:SGH) by 340.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,005 shares of the company’s stock after purchasing an additional 24,735 shares during the period. Navellier & Associates Inc owned approximately 0.14% of Smart Global worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SGH. BlackRock Inc. raised its holdings in Smart Global by 38.7% in the 1st quarter. BlackRock Inc. now owns 554,481 shares of the company’s stock valued at $27,635,000 after acquiring an additional 154,757 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Smart Global by 208.4% in the 1st quarter. JPMorgan Chase & Co. now owns 507,638 shares of the company’s stock valued at $25,301,000 after acquiring an additional 343,038 shares in the last quarter. Millennium Management LLC raised its holdings in Smart Global by 1,465.2% in the 4th quarter. Millennium Management LLC now owns 162,767 shares of the company’s stock valued at $5,485,000 after acquiring an additional 152,368 shares in the last quarter. Chicago Equity Partners LLC raised its holdings in Smart Global by 1,355.7% in the 1st quarter. Chicago Equity Partners LLC now owns 139,600 shares of the company’s stock valued at $6,958,000 after acquiring an additional 130,010 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Smart Global in the 1st quarter valued at $6,578,000. 86.00% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on SGH. ValuEngine cut Smart Global from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. BidaskClub raised Smart Global from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Zacks Investment Research cut Smart Global from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Stifel Nicolaus lifted their price target on Smart Global from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Finally, Deutsche Bank lifted their price target on Smart Global from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, June 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $51.19.

In other news, insider Alan Marten sold 8,000 shares of Smart Global stock in a transaction on Friday, June 15th. The stock was sold at an average price of $41.90, for a total value of $335,200.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jack A. Pacheco sold 7,500 shares of Smart Global stock in a transaction on Monday, May 21st. The shares were sold at an average price of $43.88, for a total value of $329,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,567 shares of company stock worth $4,430,635. Corporate insiders own 6.90% of the company’s stock.

Shares of Smart Global opened at $31.53 on Friday, according to MarketBeat. Smart Global Holdings Inc has a 52-week low of $17.14 and a 52-week high of $56.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.13 and a current ratio of 1.61. The firm has a market capitalization of $716.29 million, a PE ratio of 6.30 and a beta of -0.68.

Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, June 21st. The company reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.07. Smart Global had a return on equity of 94.82% and a net margin of 6.99%. The company had revenue of $335.50 million for the quarter, compared to analyst estimates of $331.47 million. During the same quarter last year, the company posted $0.62 EPS. The company’s revenue for the quarter was up 62.1% compared to the same quarter last year. equities research analysts expect that Smart Global Holdings Inc will post 5.89 earnings per share for the current 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.

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

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