Smart Global (NASDAQ:SGH) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.

Other equities analysts have also issued research reports about the company. Roth Capital cut their price target on Smart Global from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 5th. Deutsche Bank cut their price target on Smart Global from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, October 5th. Stifel Nicolaus raised their price target on Smart Global from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Zacks Investment Research upgraded Smart Global from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Saturday, June 23rd. Finally, ValuEngine lowered Smart Global from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.71.

SGH stock traded up $2.47 during midday trading on Thursday, reaching $32.72. The company’s stock had a trading volume of 1,233,322 shares, compared to its average volume of 748,110. The company has a quick ratio of 1.13, a current ratio of 1.61 and a debt-to-equity ratio of 0.82. Smart Global has a 1 year low of $26.26 and a 1 year high of $56.69. The firm has a market cap of $641.12 million, a price-to-earnings ratio of 16.04 and a beta of -0.39.

Smart Global (NASDAQ:SGH) last released its earnings results on Thursday, October 4th. The company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.06. The business had revenue of $373.97 million for the quarter, compared to analyst estimates of $368.51 million. Smart Global had a return on equity of 94.82% and a net margin of 6.99%. The business’s revenue was up 67.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 earnings per share. Research analysts expect that Smart Global will post 5.89 EPS for the current year.

In related news, VP Jack A. Pacheco sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $31.72, for a total transaction of $237,900.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alan Marten sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $31.31, for a total value of $250,480.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,415 shares of company stock worth $3,721,146. Insiders own 6.90% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Brown Advisory Inc. bought a new stake in Smart Global during the first quarter valued at about $277,000. American International Group Inc. boosted its position in Smart Global by 45.7% during the first quarter. American International Group Inc. now owns 6,091 shares of the company’s stock valued at $304,000 after purchasing an additional 1,910 shares in the last quarter. Navellier & Associates Inc bought a new stake in Smart Global during the first quarter valued at about $362,000. The Manufacturers Life Insurance Company boosted its position in Smart Global by 43.5% during the first quarter. The Manufacturers Life Insurance Company now owns 7,475 shares of the company’s stock valued at $372,000 after purchasing an additional 2,265 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Smart Global during the third quarter valued at about $227,000. 83.48% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Smart Global (NASDAQ:SGH)

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