Smart Global Holdings Inc (NYSE:SGH)’s share price rose 11.5% during trading on Wednesday after Roth Capital raised their price target on the stock from $30.00 to $42.00. Roth Capital currently has a buy rating on the stock. Smart Global Holdings traded as high as $37.11 and last traded at $36.93. Approximately 522,882 shares were traded during mid-day trading, an increase of 109% from the average daily volume of 249,802 shares. The stock had previously closed at $33.11.

SGH has been the topic of a number of other research reports. Deutsche Bank AG initiated coverage on shares of Smart Global Holdings in a report on Monday, June 19th. They issued a “buy” rating and a $18.00 price objective on the stock. Zacks Investment Research upgraded shares of Smart Global Holdings from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a report on Thursday, October 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price objective (up previously from $27.00) on shares of Smart Global Holdings in a report on Thursday, September 28th. Jefferies Group LLC initiated coverage on shares of Smart Global Holdings in a report on Monday, June 19th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Needham & Company LLC initiated coverage on shares of Smart Global Holdings in a report on Monday, June 19th. They issued a “strong-buy” rating and a $20.00 price objective on the stock. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.21.

Institutional investors have recently modified their holdings of the company. Symphony Asset Management LLC acquired a new stake in shares of Smart Global Holdings in the 2nd quarter valued at about $1,286,000. Canada Pension Plan Investment Board acquired a new stake in shares of Smart Global Holdings in the 2nd quarter valued at about $10,231,000. Empyrean Capital Partners LP acquired a new stake in shares of Smart Global Holdings in the 2nd quarter valued at about $1,741,000. Spark Investment Management LLC acquired a new stake in shares of Smart Global Holdings in the 2nd quarter valued at about $184,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Smart Global Holdings in the 2nd quarter valued at about $324,000.

The company’s market cap is $791.56 million. The stock’s 50 day moving average price is $23.80 and its 200 day moving average price is $18.94.

Smart Global Holdings (NYSE:SGH) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. The company had revenue of $223.00 million during the quarter, compared to the consensus estimate of $210.54 million. Smart Global Holdings had a net margin of 3.84% and a return on equity of 132.75%. Smart Global Holdings’s revenue was up 52.5% compared to the same quarter last year. Equities research analysts forecast that Smart Global Holdings Inc will post $3.12 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/12/smart-global-holdings-inc-sgh-stock-price-up-11-5-following-analyst-upgrade.html.

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.

Receive News & Stock Ratings for Smart Global Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Global Holdings Inc and related stocks with our FREE daily email newsletter.