Shares of Smart Global Holdings Inc (NYSE:SGH) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One research 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 company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $27.80.

SGH has been the topic of several recent analyst reports. Barclays PLC initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They issued an “overweight” rating and a $19.00 price target on the stock. Deutsche Bank AG began coverage on Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $18.00 price objective on the stock. Jefferies Group LLC began coverage on Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $21.00 price objective on the stock. Stifel Nicolaus began coverage on Smart Global Holdings in a report on Monday, June 19th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, Needham & Company LLC began coverage on Smart Global Holdings in a report on Monday, June 19th. They set a “strong-buy” rating and a $20.00 price objective on the stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SGH. Stifel Financial Corp bought a new stake in Smart Global Holdings during the 2nd quarter valued at $169,000. Spark Investment Management LLC bought a new stake in Smart Global Holdings during the 2nd quarter valued at $184,000. Laurion Capital Management LP bought a new stake in Smart Global Holdings during the 2nd quarter valued at $324,000. Goldman Sachs Group Inc. bought a new stake in Smart Global Holdings during the 2nd quarter valued at $429,000. Finally, Symphony Asset Management LLC bought a new stake in Smart Global Holdings during the 2nd quarter valued at $1,286,000.

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Smart Global Holdings (NYSE SGH) traded up 19.02% during midday trading on Wednesday, hitting $26.78. The stock had a trading volume of 1,273,859 shares. Smart Global Holdings has a 52 week low of $11.50 and a 52 week high of $27.08. The stock has a market cap of $580.51 million and a P/E ratio of 382.57. The company has a 50-day moving average price of $19.81 and a 200-day moving average price of $17.32.

Smart Global Holdings (NYSE:SGH) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.15. Smart Global Holdings had a return on equity of 132.75% and a net margin of 3.84%. The company had revenue of $223.00 million during the quarter, compared to the consensus estimate of $210.54 million. The business’s revenue was up 52.5% compared to the same quarter last year. Equities analysts expect that Smart Global Holdings will post $2.80 EPS for the current year.

Smart Global Holdings 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.

Analyst Recommendations for Smart Global Holdings (NYSE:SGH)

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