Alambic Investment Management L.P. increased its position in Smart Global Holdings Inc (NASDAQ:SGH) by 171.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,011 shares of the company’s stock after acquiring an additional 52,403 shares during the quarter. Alambic Investment Management L.P. owned about 0.37% of Smart Global worth $2,646,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Smart Global by 20.7% during the second quarter. BlackRock Inc. now owns 669,382 shares of the company’s stock valued at $21,333,000 after purchasing an additional 114,901 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Smart Global by 208.4% during the first quarter. JPMorgan Chase & Co. now owns 507,638 shares of the company’s stock valued at $25,301,000 after purchasing an additional 343,038 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Smart Global by 68.8% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 210,026 shares of the company’s stock valued at $6,694,000 after purchasing an additional 85,601 shares during the last quarter. Chicago Equity Partners LLC lifted its position in Smart Global by 2.9% during the second quarter. Chicago Equity Partners LLC now owns 143,710 shares of the company’s stock valued at $4,580,000 after purchasing an additional 4,110 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Smart Global during the first quarter valued at approximately $6,578,000. Institutional investors own 83.56% of the company’s stock.
Shares of SGH opened at $30.04 on Friday. The company has a market capitalization of $735.92 million, a PE ratio of 14.73 and a beta of -0.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.61 and a quick ratio of 1.13. Smart Global Holdings Inc has a fifty-two week low of $20.29 and a fifty-two week high of $56.69.
Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, June 21st. The company reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.07. The firm had revenue of $335.50 million during the quarter, compared to analyst estimates of $331.47 million. Smart Global had a net margin of 6.99% and a return on equity of 94.82%. The business’s quarterly revenue was up 62.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS. equities research analysts expect that Smart Global Holdings Inc will post 5.89 earnings per share for the current year.
In other news, Director Mukesh Patel sold 39,338 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $41.67, for a total value of $1,639,214.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Bruce M. Goldberg sold 3,442 shares of Smart Global stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $35.63, for a total transaction of $122,638.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,211 shares of company stock valued at $4,220,707. Company insiders own 6.90% of the company’s stock.
Several brokerages have issued reports on SGH. ValuEngine upgraded shares of Smart Global from a “hold” rating to a “buy” rating in a research report on Thursday, May 24th. BidaskClub lowered shares of Smart Global from a “buy” rating to a “hold” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $75.00 target price on shares of Smart Global in a research report on Tuesday, June 12th. Zacks Investment Research upgraded shares of Smart Global from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, August 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Smart Global from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, June 22nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $49.94.
Smart Global Profile
SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.
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