Oppenheimer & Co. Inc. increased its stake in Smart Global Holdings Inc (NASDAQ:SGH) by 127.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,313 shares of the company’s stock after buying an additional 11,374 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Smart Global were worth $584,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Smart Global by 43.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 7,475 shares of the company’s stock valued at $372,000 after buying an additional 2,265 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Smart Global by 13.2% during the 2nd quarter. Macquarie Group Ltd. now owns 20,600 shares of the company’s stock valued at $657,000 after purchasing an additional 2,400 shares during the last quarter. Engineers Gate Manager LP lifted its holdings in Smart Global by 27.6% during the 2nd quarter. Engineers Gate Manager LP now owns 11,400 shares of the company’s stock valued at $363,000 after purchasing an additional 2,465 shares during the last quarter. Millennium Management LLC lifted its holdings in Smart Global by 9.9% during the 2nd quarter. Millennium Management LLC now owns 44,705 shares of the company’s stock valued at $1,425,000 after purchasing an additional 4,029 shares during the last quarter. Finally, Chicago Equity Partners LLC lifted its holdings in Smart Global by 2.9% during the 2nd quarter. Chicago Equity Partners LLC now owns 143,710 shares of the company’s stock valued at $4,580,000 after purchasing an additional 4,110 shares during the last quarter. 84.60% of the stock is owned by institutional investors.

Shares of Smart Global stock opened at $30.32 on Thursday. Smart Global Holdings Inc has a 1 year low of $25.84 and a 1 year high of $56.69. The firm has a market cap of $665.05 million, a price-to-earnings ratio of 4.94, a price-to-earnings-growth ratio of 0.30 and a beta of 0.26. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.76 and a quick ratio of 1.02.

Smart Global (NASDAQ:SGH) last announced its quarterly earnings results on Thursday, October 4th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.06. Smart Global had a return on equity of 92.01% and a net margin of 9.27%. The business had revenue of $373.97 million during the quarter, compared to the consensus estimate of $368.51 million. During the same quarter last year, the firm posted $0.79 EPS. The company’s quarterly revenue was up 67.7% on a year-over-year basis. On average, sell-side analysts forecast that Smart Global Holdings Inc will post 6.61 EPS for the current fiscal year.

Several brokerages have issued reports on SGH. ValuEngine downgraded Smart Global from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. BidaskClub downgraded Smart Global from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Zacks Investment Research downgraded Smart Global from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Roth Capital cut their price target on Smart Global from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, October 5th. Finally, Deutsche Bank cut their price target on Smart Global from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, October 5th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $53.17.

In other Smart Global news, VP Bruce M. Goldberg sold 3,600 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $30.97, for a total transaction of $111,492.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alan Marten sold 8,800 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $29.15, for a total value of $256,520.00. The disclosure for this sale can be found here. Insiders have sold a total of 175,959 shares of company stock valued at $5,500,902 in the last ninety days. Insiders own 6.90% of the company’s stock.

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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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