Laurion Capital Management LP Purchases Shares of 20,000 Smart Global Holdings Inc (SGH)
Laurion Capital Management LP purchased a new position in shares of Smart Global Holdings Inc (NYSE:SGH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,000 shares of the company’s stock, valued at approximately $324,000. Laurion Capital Management LP owned approximately 0.09% of Smart Global Holdings as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SGH. Canada Pension Plan Investment Board purchased a new stake in shares of Smart Global Holdings in the 2nd quarter valued at approximately $10,231,000. Ameriprise Financial Inc. acquired a new stake in shares of Smart Global Holdings in the 2nd quarter valued at $7,126,000. Symphony Asset Management LLC acquired a new stake in shares of Smart Global Holdings in the 2nd quarter valued at $1,286,000. Finally, Spark Investment Management LLC acquired a new stake in shares of Smart Global Holdings in the 2nd quarter valued at $184,000.
SGH has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Smart Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Roth Capital reissued a “buy” rating and issued a $30.00 target price (up previously from $24.00) on shares of Smart Global Holdings in a report on Friday, September 8th. Barclays PLC assumed coverage on Smart Global Holdings in a report on Monday, June 19th. They issued an “overweight” rating and a $19.00 target price on the stock. Jefferies Group LLC started coverage on Smart Global Holdings in a report on Monday, June 19th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Stifel Nicolaus restated a “buy” rating on shares of Smart Global Holdings in a research note on Thursday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $27.67.
Smart Global Holdings Inc (NYSE:SGH) opened at 26.78 on Monday. 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 Inc has a one year low of $11.50 and a one year high of $27.08. The firm has a market capitalization of $580.51 million and a P/E ratio of 382.57.
Smart Global Holdings (NYSE:SGH) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. The company had revenue of $223.00 million during the quarter, compared to analysts’ expectations of $210.54 million. Smart Global Holdings had a net margin of 3.84% and a return on equity of 132.75%. The firm’s revenue was up 52.5% on a year-over-year basis. On average, equities research analysts anticipate that Smart Global Holdings Inc will post $2.80 EPS for the current year.
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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.
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