Point72 Asia Singapore Pte. Ltd. Increases Stock Holdings in SMART Global Holdings, Inc. (NASDAQ:SGH)

Point72 Asia Singapore Pte. Ltd. raised its position in SMART Global Holdings, Inc. (NASDAQ:SGH) by 5,593.5% during the second quarter, HoldingsChannel reports. The firm owned 4,384 shares of the company’s stock after purchasing an additional 4,307 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in SMART Global were worth $100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of SMART Global by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,038,205 shares of the company’s stock valued at $185,246,000 after purchasing an additional 203,197 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of SMART Global by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,665,769 shares of the company’s stock worth $38,096,000 after acquiring an additional 186,958 shares during the last quarter. LSV Asset Management increased its stake in shares of SMART Global by 0.8% in the 2nd quarter. LSV Asset Management now owns 881,200 shares of the company’s stock worth $20,153,000 after acquiring an additional 6,900 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of SMART Global by 69.5% during the 2nd quarter. American Century Companies Inc. now owns 802,527 shares of the company’s stock worth $18,354,000 after acquiring an additional 328,934 shares during the period. Finally, Kennedy Capital Management LLC boosted its position in shares of SMART Global by 33.3% during the 1st quarter. Kennedy Capital Management LLC now owns 480,037 shares of the company’s stock valued at $12,635,000 after acquiring an additional 120,033 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on SGH. Needham & Company LLC raised their price objective on shares of SMART Global from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays lifted their price target on shares of SMART Global from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Stifel Nicolaus increased their price objective on SMART Global from $27.50 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $35.00 target price on shares of SMART Global in a research report on Wednesday, July 3rd. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, SMART Global has an average rating of “Buy” and a consensus price target of $32.25.

SMART Global Price Performance

Shares of SGH opened at $20.60 on Friday. The firm has a 50-day simple moving average of $20.10 and a two-hundred day simple moving average of $21.46. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.30 and a quick ratio of 2.66. SMART Global Holdings, Inc. has a 1-year low of $12.66 and a 1-year high of $29.81. The stock has a market cap of $1.09 billion, a PE ratio of -6.69 and a beta of 1.67.

SMART Global (NASDAQ:SGH) last posted its earnings results on Tuesday, July 9th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $300.00 million. During the same quarter last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, analysts forecast that SMART Global Holdings, Inc. will post 0.7 EPS for the current year.

Insider Transactions at SMART Global

In other news, COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $20.02, for a total transaction of $266,946.68. Following the completion of the transaction, the chief operating officer now directly owns 211,896 shares in the company, valued at $4,242,157.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Joseph Gates Clark sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $29.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now directly owns 87,386 shares in the company, valued at $2,534,194. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $20.02, for a total value of $266,946.68. Following the completion of the sale, the chief operating officer now owns 211,896 shares in the company, valued at approximately $4,242,157.92. The trade was a 0.00 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 2.30% of the company’s stock.

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.