In a report released today, Kevin Cassidy from Rosenblatt Securities maintained a Buy rating on Smart Global Holdings (SGH). The company’s shares closed last Monday at $45.97, close to its 52-week high of $50.30.
According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 26.5% and a 71.8% success rate. Cassidy covers the Technology sector, focusing on stocks such as Skyworks Solutions, ON Semiconductor, and Western Digital.
Smart Global Holdings has an analyst consensus of Strong Buy, with a price target consensus of $53.00, which is a 18.0% upside from current levels. In a report issued on February 22, Stifel Nicolaus also maintained a Buy rating on the stock with a $55.00 price target.
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Based on Smart Global Holdings’ latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $292 million and net profit of $2.03 million. In comparison, last year the company earned revenue of $272 million and had a net profit of $224K.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SGH in relation to earlier this year.
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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.