Smart Global Holdings Inc (NASDAQ:SGH) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 2,252,100 shares, a decrease of 9.6% from the May 30th total of 2,490,900 shares. Approximately 17.7% of the shares of the company are short sold. Based on an average daily volume of 363,300 shares, the days-to-cover ratio is currently 6.2 days.
A number of analysts have weighed in on the company. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a research report on Thursday. BidaskClub upgraded Xilinx from a “hold” rating to a “buy” rating in a research report on Saturday, June 29th. Zacks Investment Research upgraded Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Saturday. Deutsche Bank upped their price target on Welltower from $61.00 to $71.00 and gave the company a “hold” rating in a research report on Friday, March 29th. Finally, TheStreet cut UDR from a “b” rating to a “c” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $35.33.
Shares of SGH stock traded down $0.17 during trading hours on Monday, hitting $31.30. 195,262 shares of the company’s stock were exchanged, compared to its average volume of 644,864. The company has a 50-day moving average price of $20.53. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 0.78. The firm has a market cap of $719.64 million, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.72 and a beta of 1.20. Smart Global has a 52 week low of $16.94 and a 52 week high of $35.10.
Smart Global (NASDAQ:SGH) last announced its earnings results on Thursday, June 27th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). The business had revenue of $235.70 million for the quarter, compared to the consensus estimate of $264.98 million. Smart Global had a return on equity of 40.99% and a net margin of 5.77%. Smart Global’s revenue for the quarter was down 29.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 EPS. As a group, research analysts expect that Smart Global will post 2.92 earnings per share for the current year.
In other Smart Global news, VP Bruce M. Goldberg sold 2,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $22.13, for a total value of $44,260.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Bruce M. Goldberg sold 2,381 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $18.39, for a total value of $43,786.59. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SGH. Park West Asset Management LLC acquired a new position in shares of Smart Global during the fourth quarter valued at $59,400,000. BlackRock Inc. lifted its stake in shares of Smart Global by 137.4% during the fourth quarter. BlackRock Inc. now owns 1,661,267 shares of the company’s stock valued at $49,339,000 after acquiring an additional 961,590 shares during the period. Brown Advisory Inc. acquired a new position in shares of Smart Global during the fourth quarter valued at $13,005,000. FMR LLC acquired a new position in shares of Smart Global during the first quarter valued at $7,757,000. Finally, Kennedy Capital Management Inc. lifted its stake in shares of Smart Global by 106.0% during the first quarter. Kennedy Capital Management Inc. now owns 455,125 shares of the company’s stock valued at $8,738,000 after acquiring an additional 234,183 shares during the period. 97.15% of the stock is currently owned by institutional investors and hedge funds.
Smart Global Company 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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