Jane Street Group LLC bought a new stake in Smart Global Holdings Inc (NASDAQ:SGH) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,258 shares of the company’s stock, valued at approximately $278,000.
Other large investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new position in Smart Global in the third quarter valued at $868,000. American International Group Inc. purchased a new position in Smart Global in the third quarter valued at $362,000. Martingale Asset Management L P boosted its holdings in Smart Global by 150.5% in the fourth quarter. Martingale Asset Management L P now owns 45,336 shares of the company’s stock valued at $1,528,000 after purchasing an additional 27,236 shares during the period. Schwab Charles Investment Management Inc. purchased a new position in Smart Global in the third quarter valued at $919,000. Finally, Systematic Financial Management LP purchased a new position in Smart Global in the fourth quarter valued at $12,319,000. Hedge funds and other institutional investors own 85.69% of the company’s stock.
Smart Global stock opened at $42.55 on Tuesday. Smart Global Holdings Inc has a 1-year low of $11.50 and a 1-year high of $56.69. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.08 and a current ratio of 1.62. The firm has a market capitalization of $994.55 and a price-to-earnings ratio of 20.86.
In other Smart Global news, major shareholder Lake Sumeru (Offshore) Silver sold 2,000,000 shares of the firm’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $45.20, for a total value of $90,400,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jack A. Pacheco sold 7,500 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $38.64, for a total value of $289,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,105,536 shares of company stock worth $94,962,826. 6.90% of the stock is owned by insiders.
SGH has been the subject of a number of recent research reports. Needham & Company LLC lifted their target price on Smart Global from $46.00 to $75.00 and gave the company a “buy” rating in a report on Friday, March 23rd. Zacks Investment Research upgraded Smart Global from a “hold” rating to a “strong-buy” rating and set a $62.00 target price for the company in a report on Wednesday, March 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $47.00 target price (up from $40.00) on shares of Smart Global in a report on Friday, December 22nd. Roth Capital lifted their target price on Smart Global to $50.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Finally, Deutsche Bank lifted their target price on Smart Global from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, March 19th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $51.19.
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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