Smart Global Holdings Inc (NASDAQ:SGH)’s share price was down 26.9% during mid-day trading on Friday after Roth Capital lowered their price target on the stock from $70.00 to $60.00. Roth Capital currently has a buy rating on the stock. Smart Global traded as low as $26.50 and last traded at $34.48. Approximately 122,765 shares were traded during trading, a decline of 82% from the average daily volume of 694,016 shares. The stock had previously closed at $27.17.

A number of other brokerages have also weighed in on SGH. BidaskClub lowered Smart Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Deutsche Bank lifted their target price on Smart Global from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, June 12th. Stifel Nicolaus lifted their target price on Smart Global from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, June 22nd. ValuEngine lowered Smart Global from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered Smart Global from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.14.

In other news, insider Alan Marten sold 8,000 shares of the business’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $31.31, for a total value of $250,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jack A. Pacheco sold 7,500 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $30.25, for a total value of $226,875.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,731 shares of company stock valued at $2,611,889. Corporate insiders own 6.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Advisory Inc. acquired a new position in Smart Global during the 1st quarter valued at about $277,000. American International Group Inc. increased its position in Smart Global by 45.7% during the 1st quarter. American International Group Inc. now owns 6,091 shares of the company’s stock valued at $304,000 after buying an additional 1,910 shares in the last quarter. Navellier & Associates Inc acquired a new position in Smart Global during the 1st quarter valued at about $362,000. The Manufacturers Life Insurance Company increased its position in Smart Global by 43.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 7,475 shares of the company’s stock valued at $372,000 after buying an additional 2,265 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Smart Global during the 3rd quarter valued at about $227,000. 83.48% of the stock is owned by hedge funds and other institutional investors.

The stock has a market cap of $641.12 million, a PE ratio of 16.74 and a beta of -0.39. 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 (NASDAQ:SGH) last posted its quarterly earnings results on Thursday, October 4th. The company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.06. The business had revenue of $373.97 million for the quarter, compared to the consensus estimate of $368.51 million. Smart Global had a return on equity of 94.82% and a net margin of 6.99%. The company’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. On average, research analysts predict that Smart Global Holdings Inc will post 5.89 EPS for the current year.

Smart Global Company Profile (NASDAQ:SGH)

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.

Recommended Story: Insider Trading

Receive News & Ratings for Smart Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Global and related companies with MarketBeat.com's FREE daily email newsletter.