Legal & General Group Plc raised its position in Smart Global Holdings Inc (NASDAQ:SGH) by 1.5% during the first quarter, HoldingsChannel.com reports. The firm owned 33,117 shares of the company’s stock after buying an additional 482 shares during the quarter. Legal & General Group Plc’s holdings in Smart Global were worth $804,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in SGH. PNC Financial Services Group Inc. raised its holdings in shares of Smart Global by 68.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,796 shares of the company’s stock worth $43,000 after purchasing an additional 732 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Smart Global in the 4th quarter worth about $49,000. NumerixS Investment Technologies Inc raised its holdings in shares of Smart Global by 60.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the company’s stock worth $61,000 after purchasing an additional 600 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Smart Global by 11.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,457 shares of the company’s stock worth $157,000 after purchasing an additional 638 shares during the period. Finally, Texas Permanent School Fund raised its holdings in shares of Smart Global by 23.5% in the 1st quarter. Texas Permanent School Fund now owns 11,112 shares of the company’s stock worth $270,000 after purchasing an additional 2,113 shares during the period. Institutional investors own 93.00% of the company’s stock.
SGH has been the topic of a number of research reports. Rosenblatt Securities initiated coverage on Smart Global in a report on Friday, June 5th. They issued a “buy” rating and a $45.00 price objective on the stock. Needham & Company LLC started coverage on Smart Global in a report on Monday, May 18th. They set a “buy” rating and a $35.00 target price on the stock. Deutsche Bank dropped their target price on Smart Global from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, March 27th. BidaskClub downgraded Smart Global from a “buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Zacks Investment Research downgraded Smart Global from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.
SGH stock opened at $25.30 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.98 and a debt-to-equity ratio of 0.70. Smart Global Holdings Inc has a 52-week low of $16.42 and a 52-week high of $39.08. The stock’s 50 day moving average is $26.50 and its two-hundred day moving average is $28.34. The company has a market capitalization of $606.95 million, a PE ratio of -316.21 and a beta of 1.09.
Smart Global (NASDAQ:SGH) last posted its quarterly earnings data on Tuesday, April 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. Smart Global had a positive return on equity of 10.07% and a negative net margin of 0.18%. The company had revenue of $272.00 million for the quarter, compared to the consensus estimate of $268.71 million. During the same period in the previous year, the business earned $0.77 EPS. Smart Global’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Smart Global Holdings Inc will post 1.67 EPS for the current year.
In other Smart Global news, CFO Jack A. Pacheco sold 11,250 shares of Smart Global stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $30.00, for a total transaction of $337,500.00. Following the sale, the chief financial officer now directly owns 96,458 shares in the company, valued at approximately $2,893,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is owned by insiders.
Smart Global 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.
Featured Article: How does inflation affect different investments?
Want to see what other hedge funds are holding SGH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Smart Global Holdings Inc (NASDAQ:SGH).
Receive News & Ratings for Smart Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Global and related companies with MarketBeat.com's FREE daily email newsletter.