Jefferies Group LLC restated their buy rating on shares of Smart Global Holdings Inc (NYSE:SGH) in a report published on Monday morning. The firm currently has a $28.50 price objective on the stock, up from their previous price objective of $23.00.

A number of other research analysts have also recently issued reports on SGH. Barclays PLC initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They set an overweight rating and a $19.00 price objective for the company. Deutsche Bank AG initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They set a buy rating and a $18.00 price objective for the company. Stifel Nicolaus initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They set a buy rating and a $27.00 price objective for the company. Needham & Company LLC initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They set a strong-buy rating and a $20.00 price objective for the company. Finally, Roth Capital initiated coverage on Smart Global Holdings in a report on Monday, June 19th. They set a buy rating and a $24.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $30.50.

Smart Global Holdings (SGH) opened at 30.60 on Monday. Smart Global Holdings has a 52-week low of $11.50 and a 52-week high of $31.60. The stock’s 50 day moving average is $21.65 and its 200 day moving average is $18.15. The company’s market cap is $633.63 million.

Smart Global Holdings (NYSE:SGH) last issued its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 return on equity of 132.75% and a net margin of 3.84%. Smart Global Holdings’s revenue was up 52.5% on a year-over-year basis. On average, analysts predict that Smart Global Holdings will post $3.12 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in SGH. FMR LLC bought a new position in shares of Smart Global Holdings in the second quarter valued at about $13,569,000. Canada Pension Plan Investment Board bought a new position in shares of Smart Global Holdings in the second quarter valued at about $10,231,000. Ameriprise Financial Inc. bought a new position in shares of Smart Global Holdings in the second quarter valued at about $7,126,000. Crosslink Capital Inc. bought a new position in shares of Smart Global Holdings in the second quarter valued at about $2,358,000. Finally, Empyrean Capital Partners LP bought a new position in shares of Smart Global Holdings in the second quarter valued at about $1,741,000.

About Smart Global Holdings

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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