Rosenblatt Securities analyst Kevin Cassidy maintained a Buy rating on Smart Global Holdings (SGH) yesterday and set a price target of $45.00. The company’s shares closed last Tuesday at $26.75.
According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 22.7% and a 68.4% success rate. Cassidy covers the Technology sector, focusing on stocks such as Western Digital, Seagate Tech, and Synaptics.
Smart Global Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $35.33.
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Based on Smart Global Holdings’ latest earnings release for the quarter ending February 29, the company reported a quarterly revenue of $272 million and GAAP net loss of $9.72 million. In comparison, last year the company earned revenue of $304 million and had a net profit of $12.79 million.
Based on the recent corporate insider activity of 33 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.