Wedge Capital Management L L P NC Buys New Stake in SMART Global Holdings, Inc. (NASDAQ:SGH)

Wedge Capital Management L L P NC acquired a new position in SMART Global Holdings, Inc. (NASDAQ:SGH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 56,657 shares of the company’s stock, valued at approximately $1,073,000. Wedge Capital Management L L P NC owned approximately 0.11% of SMART Global as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of SMART Global by 85.8% in 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. Skandinaviska Enskilda Banken AB publ bought a new stake in SMART Global during the 3rd quarter valued at about $217,000. Aigen Investment Management LP bought a new stake in SMART Global during the 3rd quarter valued at about $226,000. Graham Capital Management L.P. bought a new stake in SMART Global during the 3rd quarter valued at about $284,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SMART Global by 48.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,963 shares of the company’s stock valued at $245,000 after buying an additional 4,253 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on SGH. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price objective on shares of SMART Global in a report on Monday. Stifel Nicolaus boosted their price target on shares of SMART Global from $26.00 to $27.50 and gave the company a “buy” rating in a report on Wednesday, April 10th.

Insider Activity

In other news, Director Penny Herscher sold 2,525 shares of SMART Global stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $22.62, for a total value of $57,115.50. Following the transaction, the director now 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 this link. In related news, CEO Mark Adams bought 10,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were bought at an average price of $18.79 per share, with a total value of $187,900.00. Following the transaction, the chief executive officer now owns 29,640 shares in the company, valued at $556,935.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $57,115.50. Following the completion of the transaction, the director now owns 12,713 shares of the company’s stock, valued at approximately $287,568.06. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

SMART Global Trading Up 4.1 %

NASDAQ:SGH opened at $18.49 on Friday. SMART Global Holdings, Inc. has a one year low of $12.66 and a one 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. The firm has a 50-day simple moving average of $22.35 and a 200-day simple moving average of $19.64.

SMART Global Profile

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.