Smart Global Holdings Inc (NASDAQ:SGH) Director Mukesh Patel sold 33,458 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $32.10, for a total value of $1,074,001.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Smart Global Holdings Inc (NASDAQ:SGH) opened at $29.65 on Friday. Smart Global Holdings Inc has a one year low of $11.50 and a one year high of $43.15. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 1.87.

Smart Global (NASDAQ:SGH) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.15. The firm had revenue of $223.00 million for the quarter, compared to analysts’ expectations of $210.54 million. The firm’s revenue was up 52.5% on a year-over-year basis. sell-side analysts anticipate that Smart Global Holdings Inc will post 3.59 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC bought a new position in shares of Smart Global in the 2nd quarter valued at approximately $13,569,000. Canada Pension Plan Investment Board bought a new position in shares of Smart Global in the 2nd quarter valued at approximately $10,231,000. Ameriprise Financial Inc. bought a new position in shares of Smart Global in the 2nd quarter valued at approximately $7,126,000. Boston Partners bought a new position in shares of Smart Global in the 3rd quarter valued at approximately $6,691,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Smart Global in the 3rd quarter valued at approximately $4,296,000. 92.18% of the stock is owned by institutional investors.

Several brokerages recently issued reports on SGH. Citigroup increased their price objective on Smart Global to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. They noted that the move was a valuation call. Barclays raised their price target on Smart Global from $19.00 to $28.00 and gave the stock a “positive” rating in a research note on Friday, September 29th. Jefferies Group reaffirmed a “buy” rating and set a $28.50 price target (up from $23.00) on shares of Smart Global in a research note on Monday, October 2nd. Deutsche Bank reaffirmed a “buy” rating and set a $28.00 price target (up from $25.00) on shares of Smart Global in a research note on Monday, October 2nd. Finally, Needham & Company LLC raised their price target on Smart Global from $23.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $36.06.

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About Smart Global

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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