Smart Global (NASDAQ:SGH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, August 23rd.

According to Zacks, “Smart Global Holdings Inc. is a designer, manufacturer and supplier of electronic subsystems to OEMs. It engaged in the computer, industrial, networking, telecommunications, aerospace and defense markets. The company operates primarily in the U.S., Europe, Asia and Latin America. Smart Global Holdings Inc. is headquartered in Newark, California. “

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 target price on shares of Smart Global in a report on Tuesday, June 12th. BidaskClub downgraded Smart Global from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. ValuEngine downgraded Smart Global from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Deutsche Bank raised their target price on Smart Global from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, June 12th. Finally, Stifel Nicolaus raised their target price on Smart Global from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, June 22nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Smart Global presently has a consensus rating of “Buy” and a consensus target price of $49.94.

Shares of NASDAQ SGH traded down $0.25 during trading hours on Thursday, reaching $30.07. 422,439 shares of the stock were exchanged, compared to its average volume of 386,575. The firm has a market cap of $661.42 million, a P/E ratio of 5.81 and a beta of -0.65. The company has a current ratio of 1.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.82. Smart Global has a 52 week low of $20.29 and a 52 week high of $56.69.

Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, June 21st. The company reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.07. The business had revenue of $335.50 million for the quarter, compared to the consensus estimate of $331.47 million. Smart Global had a return on equity of 94.82% and a net margin of 6.99%. The firm’s quarterly revenue was up 62.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 earnings per share. analysts forecast that Smart Global will post 5.89 EPS for the current year.

In other Smart Global news, VP Bruce M. Goldberg sold 3,600 shares of Smart Global stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $32.04, for a total transaction of $115,344.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jack A. Pacheco sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $31.59, for a total value of $236,925.00. The disclosure for this sale can be found here. Insiders have sold a total of 71,873 shares of company stock valued at $2,246,292 in the last quarter. Company insiders own 6.90% of the company’s stock.

Several large investors have recently bought and sold shares of SGH. Optimum Investment Advisors bought a new stake in shares of Smart Global in the 1st quarter worth approximately $128,000. C M Bidwell & Associates Ltd. bought a new stake in Smart Global during the 1st quarter valued at $154,000. NumerixS Investment Technologies Inc bought a new stake in Smart Global during the 2nd quarter valued at $256,000. Brown Advisory Inc. bought a new position in shares of Smart Global in the first quarter worth $277,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Smart Global in the second quarter worth $285,000. 83.56% of the stock is currently owned by institutional investors.

About Smart Global

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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