Nationwide Fund Advisors purchased a new position in shares of Smart Global Holdings Inc (NASDAQ:SGH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,991 shares of the company’s stock, valued at approximately $268,000.
Several other large investors have also recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Smart Global during the 3rd quarter worth approximately $158,000. Stifel Financial Corp purchased a new stake in shares of Smart Global during the 2nd quarter worth approximately $169,000. Laurion Capital Management LP purchased a new stake in shares of Smart Global during the 2nd quarter worth approximately $324,000. Goldman Sachs Group Inc. purchased a new stake in shares of Smart Global during the 2nd quarter worth approximately $429,000. Finally, Symphony Asset Management LLC purchased a new stake in Smart Global in the 2nd quarter valued at approximately $1,286,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on SGH shares. Roth Capital reaffirmed a “buy” rating and issued a $30.00 target price (up previously from $24.00) on shares of Smart Global in a research note on Friday, September 8th. Deutsche Bank reaffirmed a “buy” rating and issued a $25.00 target price (up previously from $20.00) on shares of Smart Global in a research note on Thursday, September 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 target price (up previously from $27.00) on shares of Smart Global in a research note on Thursday, September 28th. Barclays upped their target price on Smart Global from $19.00 to $28.00 and gave the company a “positive” rating in a research note on Friday, September 29th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $33.00 target price (up previously from $23.00) on shares of Smart Global in a research note on Friday, September 29th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $39.19.
Smart Global (NASDAQ:SGH) last posted its earnings results on Thursday, December 21st. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.13. The company had revenue of $265.40 million during the quarter, compared to analysts’ expectations of $255.03 million. The firm’s quarterly revenue was up 66.6% on a year-over-year basis. equities analysts forecast that Smart Global Holdings Inc will post 4.76 earnings per share for the current year.
In other Smart Global news, CEO Iain Mackenzie sold 132,045 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $32.10, for a total value of $4,238,644.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandeep Nayyar sold 7,148 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $35.20, for a total value of $251,609.60. The disclosure for this sale can be found here. Insiders sold a total of 3,264,122 shares of company stock valued at $104,818,100 over the last quarter. 6.90% of the stock is currently owned by insiders.
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Smart Global Company Profile
Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.
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