Insider Selling: SMART Global Holdings, Inc. (NASDAQ:SGH) COO Sells 13,334 Shares of Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) COO Jack A. Pacheco sold 13,334 shares of SMART Global stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $20.02, for a total transaction of $266,946.68. Following the completion of the sale, the chief operating officer now directly owns 211,896 shares in the company, valued at approximately $4,242,157.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SMART Global Stock Performance

Shares of SGH stock opened at $19.88 on Thursday. The stock has a fifty day moving average price of $20.65 and a 200 day moving average price of $21.57. 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 stock has a market cap of $1.05 billion, a PE ratio of -6.45 and a beta of 1.67. SMART Global Holdings, Inc. has a 1 year low of $12.66 and a 1 year high of $29.81.

SMART Global (NASDAQ:SGH) last released its quarterly earnings results on Tuesday, July 9th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. The business had revenue of $300.58 million during the quarter, compared to the consensus estimate of $300.00 million. SMART Global had a positive return on equity of 8.86% and a negative net margin of 14.35%. The business’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 EPS. Sell-side analysts forecast that SMART Global Holdings, Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SGH shares. Needham & Company LLC lifted their price objective on SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price objective on shares of SMART Global in a report on Wednesday, July 3rd. Stifel Nicolaus raised their target price on SMART Global from $27.50 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays upped their price target on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, SMART Global presently has an average rating of “Buy” and a consensus target price of $32.25.

Institutional Trading of SMART Global

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of SMART Global by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,038,205 shares of the company’s stock worth $185,246,000 after purchasing an additional 203,197 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SMART Global by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,665,769 shares of the company’s stock valued at $38,096,000 after acquiring an additional 186,958 shares in the last quarter. LSV Asset Management boosted its stake in shares of SMART Global by 0.8% during the second quarter. LSV Asset Management now owns 881,200 shares of the company’s stock valued at $20,153,000 after acquiring an additional 6,900 shares during the last quarter. UBS Group AG increased its position in SMART Global by 7,076.7% during the 4th quarter. UBS Group AG now owns 862,786 shares of the company’s stock worth $16,333,000 after purchasing an additional 850,764 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in SMART Global by 69.5% in the 2nd quarter. American Century Companies Inc. now owns 802,527 shares of the company’s stock valued at $18,354,000 after purchasing an additional 328,934 shares during the last quarter.

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.