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 company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $20.02, for a total value of $266,946.68. Following the sale, the chief operating officer now directly owns 211,896 shares in the company, valued at approximately $4,242,157.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

SMART Global Stock Performance

Shares of SGH opened at $19.88 on Thursday. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. SMART Global Holdings, Inc. has a 52-week low of $12.66 and a 52-week high of $29.81. The stock has a 50 day moving average price of $20.65 and a 200 day moving average price of $21.57. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -6.45 and a beta of 1.67.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SGH. Rosenblatt Securities restated a “buy” rating and set a $35.00 price target on shares of SMART Global in a report on Wednesday, July 3rd. Barclays lifted 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. Stifel Nicolaus raised their price objective on shares of SMART Global from $27.50 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Needham & Company LLC boosted their target price on shares of SMART Global from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $32.25.

Institutional Trading of SMART Global

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of SMART Global by 42.9% during the first quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock worth $41,000 after acquiring an additional 469 shares during the last quarter. TFO Wealth Partners LLC increased 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 valued at $80,000 after purchasing an additional 4,221 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of SMART Global by 5,593.5% in 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 last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of SMART Global during the second quarter worth about $141,000. Finally, Mutual of America Capital Management LLC acquired a new position in SMART Global in the 1st quarter valued at about $235,000.

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.