SMART Global’s (SGH) “Buy” Rating Reiterated at Needham & Company LLC

SMART Global (NASDAQ:SGH)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $27.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 50.59% from the company’s current price.

Separately, Stifel Nicolaus upped their price objective on SMART Global from $26.00 to $27.50 and gave the stock a “buy” rating in a research report on Wednesday, April 10th.

SMART Global Trading Up 4.2 %

NASDAQ:SGH opened at $17.93 on Monday. The stock has a 50-day simple moving average of $22.49 and a 200-day simple moving average of $19.67. The stock has a market cap of $937.74 million, a P/E ratio of -4.87 and a beta of 1.74. SMART Global has a 1 year low of $12.66 and a 1 year high of $29.99. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30.

Insider Transactions at SMART Global

In related news, Director Penny Herscher sold 2,525 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $22.62, for a total value of $57,115.50. Following the completion of the sale, the director now directly owns 12,713 shares of the company’s stock, valued at approximately $287,568.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Penny Herscher sold 2,525 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $22.62, for a total value of $57,115.50. Following the completion of the sale, the director now directly owns 12,713 shares of the company’s stock, valued at approximately $287,568.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Adams bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $18.79 per share, with a total value of $187,900.00. Following the completion of the transaction, the chief executive officer now owns 29,640 shares in the company, valued at $556,935.60. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

Institutional Trading of SMART Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of SMART Global by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after buying an additional 469 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of SMART Global by 85.8% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,804 shares of the company’s stock worth $93,000 after buying an additional 1,757 shares in the last quarter. TFO Wealth Partners LLC raised its stake in shares of SMART Global by 32,469.2% during the 4th quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock worth $80,000 after buying an additional 4,221 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in SMART Global in the 3rd quarter valued at approximately $217,000. Finally, Aigen Investment Management LP purchased a new position in SMART Global in the 3rd quarter valued at approximately $226,000.

About SMART Global

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.