Smart Global (NASDAQ:SGH)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Thursday. They currently have a $46.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 25.41% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Deutsche Bank reiterated a “buy” rating and issued a $35.00 price objective on shares of Smart Global in a research note on Tuesday, November 7th. Roth Capital upped their price objective on Smart Global from $30.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Smart Global from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research note on Thursday, October 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $47.00 price objective (up from $40.00) on shares of Smart Global in a research note on Friday, December 22nd. Finally, Jefferies Group reiterated a “buy” rating and issued a $28.50 price objective (up from $23.00) on shares of Smart Global in a research note on Monday, October 2nd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $39.19.

Smart Global (NASDAQ SGH) traded up $0.93 during mid-day trading on Thursday, hitting $36.68. The stock had a trading volume of 398,300 shares, compared to its average volume of 474,082. Smart Global has a 52 week low of $11.50 and a 52 week high of $43.15. The company has a market cap of $815.22 and a price-to-earnings ratio of 66.69. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.97 and a current ratio of 1.43.

Smart Global (NASDAQ:SGH) last released its quarterly earnings data on Thursday, December 21st. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.13. The company had revenue of $265.40 million during the quarter, compared to the consensus estimate of $255.03 million. The company’s quarterly revenue was up 66.6% on a year-over-year basis. research analysts expect that Smart Global will post 4.76 earnings per share for the current fiscal year.

In related news, VP Bruce M. Goldberg sold 2,500 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $35.76, for a total transaction of $89,400.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sandeep Nayyar sold 7,148 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $35.20, for a total value of $251,609.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,319,457 shares of company stock worth $106,789,483. 6.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Smart Global during the 3rd quarter worth approximately $103,000. Legal & General Group Plc bought a new stake in Smart Global during the 3rd quarter worth approximately $133,000. Acadian Asset Management LLC acquired a new position in Smart Global during the 4th quarter worth $193,000. Strs Ohio acquired a new position in Smart Global during the 3rd quarter worth $158,000. Finally, Macquarie Group Ltd. acquired a new position in Smart Global during the 3rd quarter worth $166,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

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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.

Analyst Recommendations for Smart Global (NASDAQ:SGH)

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