Squarepoint Ops LLC Purchases 74,139 Shares of SMART Global Holdings, Inc. (NASDAQ:SGH)

Squarepoint Ops LLC grew its position in shares of SMART Global Holdings, Inc. (NASDAQ:SGH) by 44.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 240,701 shares of the company’s stock after acquiring an additional 74,139 shares during the quarter. Squarepoint Ops LLC’s holdings in SMART Global were worth $5,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of SMART Global by 42.9% during the 1st quarter. GAMMA Investing LLC now owns 1,563 shares of the company’s stock valued at $41,000 after buying an additional 469 shares during the period. TFO Wealth Partners LLC raised its holdings in SMART Global by 32,469.2% in the 4th quarter. TFO Wealth Partners LLC now owns 4,234 shares of the company’s stock worth $80,000 after purchasing an additional 4,221 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in SMART Global in the 2nd quarter worth $141,000. Mutual of America Capital Management LLC bought a new position in SMART Global in the 1st quarter worth $235,000. Finally, ProShare Advisors LLC bought a new position in SMART Global in the 1st quarter worth $274,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SGH shares. Needham & Company LLC raised their target price on SMART Global from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Barclays raised their target price on SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 target price on shares of SMART Global in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus increased their price target on SMART Global from $27.50 to $32.00 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.com, the company presently has a consensus rating of “Buy” and an average target price of $32.25.

Insider Activity

In other news, COO Jack A. Pacheco sold 13,333 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $23.16, for a total transaction of $308,792.28. Following the completion of the transaction, the chief operating officer now owns 211,896 shares in the company, valued at $4,907,511.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Jack A. Pacheco sold 13,333 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $23.16, for a total transaction of $308,792.28. Following the completion of the transaction, the chief operating officer now owns 211,896 shares in the company, valued at $4,907,511.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $20.02, for a total value of $266,946.68. Following the transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at approximately $4,242,157.92. The disclosure for this sale can be found here. Insiders sold a total of 47,527 shares of company stock worth $1,062,413 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

SMART Global Trading Up 0.7 %

Shares of SGH stock opened at $21.30 on Monday. SMART Global Holdings, Inc. has a 52-week low of $12.66 and a 52-week high of $29.81. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 3.30. The firm has a market capitalization of $1.13 billion, a PE ratio of -6.92 and a beta of 1.67. The stock has a fifty day simple moving average of $20.42 and a two-hundred day simple moving average of $21.52.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings results on Tuesday, July 9th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. SMART Global had a positive return on equity of 8.86% and a negative net margin of 14.35%. The business had revenue of $300.58 million during the quarter, compared to analyst estimates of $300.00 million. During the same quarter in the prior year, the business posted $0.46 EPS. SMART Global’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, analysts predict that SMART Global Holdings, Inc. will post 0.7 EPS for the current fiscal year.

SMART Global Company Profile

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.