O Shaughnessy Asset Management LLC trimmed its position in shares of Smart Global Holdings Inc (NASDAQ:SGH) by 23.7% during the first quarter, HoldingsChannel reports. The firm owned 2,748 shares of the company’s stock after selling 853 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Smart Global were worth $53,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. NumerixS Investment Technologies Inc boosted its position in Smart Global by 42.9% during the fourth quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the company’s stock worth $59,000 after purchasing an additional 600 shares in the last quarter. Sapphire Star Partners LP raised its holdings in shares of Smart Global by 2.7% in the fourth quarter. Sapphire Star Partners LP now owns 23,320 shares of the company’s stock worth $692,000 after acquiring an additional 603 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Smart Global by 27.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,848 shares of the company’s stock worth $55,000 after acquiring an additional 616 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Smart Global by 3.6% in the first quarter. First Trust Advisors LP now owns 23,209 shares of the company’s stock worth $446,000 after acquiring an additional 798 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Smart Global by 9.8% in the first quarter. Alps Advisors Inc. now owns 16,973 shares of the company’s stock worth $326,000 after acquiring an additional 1,520 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

Shares of NASDAQ SGH traded down $0.51 on Wednesday, hitting $18.98. The company had a trading volume of 702 shares, compared to its average volume of 576,784. Smart Global Holdings Inc has a 12-month low of $16.94 and a 12-month high of $44.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.92 and a quick ratio of 1.39. The company has a market capitalization of $452.52 million, a price-to-earnings ratio of 3.16, a PEG ratio of 0.41 and a beta of 0.81.

Smart Global (NASDAQ:SGH) last issued its earnings results on Thursday, March 28th. The company reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.12). Smart Global had a return on equity of 61.87% and a net margin of 7.49%. The company had revenue of $304.10 million during the quarter, compared to analysts’ expectations of $317.27 million. During the same period in the previous year, the company earned $1.73 EPS. Smart Global’s quarterly revenue was down 3.2% on a year-over-year basis. Research analysts expect that Smart Global Holdings Inc will post 3.03 EPS for the current fiscal year.

SGH has been the subject of several analyst reports. BidaskClub upgraded Smart Global from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. ValuEngine upgraded Smart Global from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Deutsche Bank dropped their price target on Smart Global from $38.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, March 29th. Barclays decreased their target price on Smart Global from $38.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, March 29th. Finally, Zacks Investment Research raised Smart Global from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $40.00.

In other news, Director Iain Mackenzie sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $23.95, for a total transaction of $239,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Bruce M. Goldberg sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.04, for a total value of $50,080.00. The disclosure for this sale can be found here. Insiders sold 26,381 shares of company stock valued at $590,727 in the last three months. 4.20% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION NOTICE: “O Shaughnessy Asset Management LLC Has $53,000 Position in Smart Global Holdings Inc (NASDAQ:SGH)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.thecerbatgem.com/2019/06/12/o-shaughnessy-asset-management-llc-has-53000-position-in-smart-global-holdings-inc-nasdaqsgh.html.

Smart Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

Read More: What is Compound Annual Growth Rate (CAGR)?

Want to see what other hedge funds are holding SGH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Smart Global Holdings Inc (NASDAQ:SGH).

Institutional Ownership by Quarter for Smart Global (NASDAQ:SGH)

Receive News & Ratings for Smart Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Global and related companies with MarketBeat.com's FREE daily email newsletter.