In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Smart Global Holdings Inc (NASDAQ: SGH), with a price target of $75. The company’s shares closed yesterday at $39.85.
Gill wrote:
“SGH posted a solid beat/raise quarter driven by strength in specialty memory (adoption of NVDIMM) and better-than-expected Brazil business as customers pulled in orders two weeks in anticipation of the World Cup. We’ve added Penguin & the new product investments (battery) in our numbers: sales of $195MM in the associated COGS, OPEX ($41MM) and interest expense ($5.4MM/qrt). With SGH trading at less than 6x our new $7.00 FY’19 EPS estimate, we reiterate our $75PT .”
According to TipRanks.com, Gill is a top 100 analyst with an average return of 22.2% and a 70.1% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Adesto Technologies Corp, and Silicon Laboratories.
Currently, the analyst consensus on Smart Global Holdings Inc is Strong Buy and the average price target is $63.67, representing a 59.8% upside.
In a report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $61 price target.
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Smart Global Holdings Inc’s market cap is currently $880.9M and has a P/E ratio of 15.60. The company has a Price to Book ratio of 6.00.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock.
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SMART Global Holdings, Inc. is a designer, manufacturer and supplier of electronic subsystems to OEMs. It is engaged in the computer, industrial, networking, telecommunications, aerospace and defense markets. It has a product line that includes DRAM and Flash memory technologies. The company is founded in 1988 and is headquartered in Newark, CA.
