Needham analyst Rajvindra Gill assigned a Buy rating to Smart Global Holdings (SGH) today and set a price target of $56.00. The company’s shares closed last Tuesday at $39.56.
According to TipRanks.com, Gill is a 5-star analyst with an average return of 8.5% and a 63.4% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Silicon Laboratories.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Smart Global Holdings with a $51.25 average price target, implying a 30.6% upside from current levels. In a report issued on December 22, Stifel Nicolaus also maintained a Buy rating on the stock with a $45.00 price target.
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Based on Smart Global Holdings’ latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $297 million and net profit of $7.53 million. In comparison, last year the company earned revenue of $278 million and had a net profit of $5.63 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is neutral on the stock.
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SMART Global Holdings, Inc. engages in the design, manufacture, and sale of specialty memory solutions and services to the electronics industry. It deals with 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.
