Jack A. Pacheco Sells 13,334 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH) Stock

SMART Global Holdings, Inc. (NASDAQ:SGH) COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at $4,242,157.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

SMART Global Stock Performance

NASDAQ SGH opened at $21.15 on Friday. SMART Global Holdings, Inc. has a 52-week low of $12.66 and a 52-week high of $29.81. The company has a fifty day moving average of $20.54 and a 200-day moving average of $21.56. The company has a market capitalization of $1.12 billion, a P/E ratio of -6.87 and a beta of 1.67. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30.

SMART Global (NASDAQ:SGH) last issued 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 firm had revenue of $300.58 million during the quarter, compared to analyst estimates of $300.00 million. SMART Global had a positive return on equity of 8.86% and a negative net margin of 14.35%. The company’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share. As a group, equities research analysts predict that SMART Global Holdings, Inc. will post 0.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of SMART Global by 42.9% in the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock valued at $41,000 after purchasing an additional 469 shares in the last quarter. TFO Wealth Partners LLC lifted its stake in SMART Global by 32,469.2% in the fourth quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock worth $80,000 after purchasing an additional 4,221 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in SMART Global by 5,593.5% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,384 shares of the company’s stock valued at $100,000 after buying an additional 4,307 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of SMART Global during the second quarter valued at about $141,000. Finally, Mutual of America Capital Management LLC purchased a new position in shares of SMART Global in the first quarter worth about $235,000.

Wall Street Analysts Forecast Growth

SGH has been the subject of several analyst reports. Needham & Company LLC raised their price target on shares of SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays lifted their price objective on SMART Global from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Rosenblatt Securities restated a “buy” rating and issued a $35.00 target price on shares of SMART Global in a research note on Wednesday, July 3rd. Finally, Stifel Nicolaus lifted their price target on SMART Global from $27.50 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SMART Global currently has an average rating of “Buy” and an average target price of $32.25.

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.