Migdal Insurance & Financial Holdings Ltd. Reduces Stake in SMART Global Holdings, Inc. (NASDAQ:SGH)

Migdal Insurance & Financial Holdings Ltd. trimmed its position in SMART Global Holdings, Inc. (NASDAQ:SGH) by 46.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,049 shares of the company’s stock after selling 1,796 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in SMART Global were worth $46,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in SMART Global by 42.9% in 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. TFO Wealth Partners LLC raised its position in shares of SMART Global by 32,469.2% during the fourth quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock valued at $80,000 after buying an additional 4,221 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of SMART Global in the first quarter worth $235,000. ProShare Advisors LLC bought a new stake in SMART Global in the 1st quarter valued at $274,000. Finally, Griffin Asset Management Inc. purchased a new position in shares of SMART Global during the first quarter valued at about $279,000.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays lifted their price objective 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. Needham & Company LLC upped their price objective on SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 target price on shares of SMART Global in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus raised their price target on SMART Global from $27.50 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $32.25.

SMART Global Trading Up 1.3 %

Shares of SMART Global stock traded up $0.26 on Friday, hitting $20.75. 40,813 shares of the company traded hands, compared to its average volume of 1,070,823. SMART Global Holdings, Inc. has a 52 week low of $12.66 and a 52 week high of $29.81. The company has a market cap of $1.10 billion, a PE ratio of -6.65 and a beta of 1.69. The stock’s 50 day moving average price is $22.56 and its 200-day moving average price is $21.87. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80.

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

Insider Activity

In other news, insider Joseph Gates Clark sold 2,527 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $23.67, for a total value of $59,814.09. Following the completion of the transaction, the insider now directly owns 82,518 shares of the company’s stock, valued at approximately $1,953,201.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Joseph Gates Clark sold 2,527 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $23.67, for a total transaction of $59,814.09. Following the completion of the sale, the insider now owns 82,518 shares in the company, valued at approximately $1,953,201.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jack A. Pacheco sold 13,333 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.14, for a total value of $281,859.62. Following the transaction, the chief operating officer now owns 211,896 shares in the company, valued at $4,479,481.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,193 shares of company stock worth $795,466. Corporate insiders own 2.30% of the company’s stock.

SMART Global Company 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.