Rosenblatt Securities Sticks to Their Buy Rating for Smart Global Holdings (SGH)
Rosenblatt Securities analyst Kevin Cassidy maintained a Buy rating on Smart Global Holdings (SGH) today and set a price target of $45.00. The company’s shares closed last Wednesday at $27.30.
According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 22.2% and a 69.4% 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 $36.00.
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Based on Smart Global Holdings’ latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $281 million and net profit of $825K. In comparison, last year the company earned revenue of $236 million and had a net profit of $1.95 million.
Based on the recent corporate insider activity of 25 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.