SMART Global Holdings, Inc. (SGH) Given New $40.00 Price Target at Stifel Nicolaus
SMART Global Holdings, Inc. (NASDAQ:SGH) had its price target boosted by Stifel Nicolaus from $35.00 to $40.00 in a research report sent to investors on Thursday, MarketBeat Ratings reports. They currently have a buy rating on the stock.
SGH has been the subject of a number of other research reports. Zacks Investment Research upgraded SMART Global Holdings from a hold rating to a strong-buy rating and set a $34.00 price objective for the company in a report on Thursday, October 5th. Deutsche Bank AG reiterated a buy rating and issued a $28.00 price objective (up previously from $25.00) on shares of SMART Global Holdings in a report on Monday, October 2nd. Roth Capital reiterated a buy rating and issued a $30.00 price objective (up previously from $24.00) on shares of SMART Global Holdings in a report on Friday, September 8th. Needham & Company LLC upped their price objective on SMART Global Holdings from $33.00 to $40.00 and gave the company a strong-buy rating in a report on Wednesday, October 11th. Finally, Citigroup Inc. upped their price objective on SMART Global Holdings to $35.00 and gave the company a buy rating in a report on Tuesday, November 7th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $36.06.
Shares of SMART Global Holdings (NASDAQ:SGH) opened at $36.41 on Thursday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.45 and a quick ratio of 0.92. SMART Global Holdings has a fifty-two week low of $11.50 and a fifty-two week high of $38.24.
SMART Global Holdings (NASDAQ:SGH) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.79 EPS 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 the consensus estimate of $210.54 million. The company’s revenue was up 52.5% compared to the same quarter last year. analysts predict that SMART Global Holdings will post 3.45 EPS for the current fiscal year.
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A number of large investors have recently bought and sold shares of SGH. FMR LLC acquired a new position in SMART Global Holdings in the second quarter valued at about $13,569,000. Canada Pension Plan Investment Board acquired a new position in SMART Global Holdings in the second quarter valued at about $10,231,000. Ameriprise Financial Inc. acquired a new position in SMART Global Holdings in the second quarter valued at about $7,126,000. Boston Partners acquired a new position in SMART Global Holdings in the third quarter valued at about $6,691,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in SMART Global Holdings in the third quarter valued at about $4,296,000. 27.39% of the stock is owned by hedge funds and other institutional investors.
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.
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