Symphony Asset Management LLC Invests $1.29 Million in Smart Global Holdings Inc (SGH)
Symphony Asset Management LLC purchased a new stake in shares of Smart Global Holdings Inc (NYSE:SGH) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 79,458 shares of the company’s stock, valued at approximately $1,286,000. Symphony Asset Management LLC owned about 0.37% of Smart Global Holdings at the end of the most recent quarter.
Separately, Spark Investment Management LLC bought a new stake in Smart Global Holdings during the 2nd quarter worth approximately $184,000.
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A number of equities research analysts have weighed in on SGH shares. Deutsche Bank AG started coverage on shares of Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $18.00 target price on the stock. Zacks Investment Research lowered shares of Smart Global Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Jefferies Group LLC started coverage on shares of Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $21.00 target price on the stock. Roth Capital reissued a “buy” rating and set a $30.00 target price (up from $24.00) on shares of Smart Global Holdings in a report on Friday, September 8th. Finally, Needham & Company LLC started coverage on shares of Smart Global Holdings in a report on Monday, June 19th. They set a “strong-buy” rating and a $20.00 target price on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $22.83.
Smart Global Holdings Inc (NYSE:SGH) traded down 1.28% during midday trading on Wednesday, reaching $23.20. 41,832 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $18.96 and a 200-day moving average of $16.91. Smart Global Holdings Inc has a 12 month low of $11.50 and a 12 month high of $24.01. The stock has a market cap of $502.91 million and a PE ratio of 331.43.
Smart Global Holdings (NYSE:SGH) last posted its quarterly earnings results on Thursday, June 22nd. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The business had revenue of $206.97 million for the quarter, compared to analysts’ expectations of $202.87 million. Smart Global Holdings had a return on equity of 132.75% and a net margin of 3.84%. Smart Global Holdings’s revenue was up 38.3% compared to the same quarter last year. On average, equities research analysts predict that Smart Global Holdings Inc will post $1.63 earnings per share for the current year.
Smart Global Holdings 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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