Needham & Company LLC Reaffirms “Buy” Rating for SMART Global (NASDAQ:SGH)

Needham & Company LLC reissued their buy rating on shares of SMART Global (NASDAQ:SGH) in a research note published on Monday, Benzinga reports. They currently have a $27.00 price objective on the stock.

Separately, Stifel Nicolaus increased their price target on shares of SMART Global from $26.00 to $27.50 and gave the company a buy rating in a research report on Wednesday, April 10th.

SMART Global Price Performance

Shares of SMART Global stock opened at $17.76 on Monday. The stock has a market capitalization of $928.79 million, a price-to-earnings ratio of -4.83 and a beta of 1.74. The company has a fifty day moving average of $22.41 and a 200-day moving average of $19.65. SMART Global has a 52-week low of $12.66 and a 52-week high of $29.99. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30.

Insider Activity

In other SMART Global news, CEO Mark Adams purchased 10,000 shares of SMART Global stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average price of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the transaction, the chief executive officer now owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SMART Global news, Director Penny Herscher sold 2,525 shares of SMART Global stock in a transaction on Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the completion of the sale, the director now directly owns 12,713 shares of the company’s stock, valued at approximately $287,568.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Adams purchased 10,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were purchased at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the transaction, the chief executive officer now directly owns 29,640 shares in the company, valued at approximately $556,935.60. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SMART Global

Several institutional investors have recently made changes to their positions in SGH. SG Americas Securities LLC boosted its holdings in SMART Global by 75.6% in the fourth quarter. SG Americas Securities LLC now owns 234,927 shares of the company’s stock worth $4,447,000 after acquiring an additional 101,159 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of SMART Global by 46.3% during the third quarter. Deutsche Bank AG now owns 482,967 shares of the company’s stock worth $11,760,000 after purchasing an additional 152,918 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of SMART Global during the third quarter worth about $1,994,000. American Century Companies Inc. lifted its holdings in shares of SMART Global by 42.3% during the third quarter. American Century Companies Inc. now owns 292,916 shares of the company’s stock worth $7,133,000 after purchasing an additional 87,035 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of SMART Global during the third quarter worth about $702,000.

About SMART Global

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.