Alambic Investment Management L.P. Reduces Stake in SMART Global Holdings (SGH)

Alambic Investment Management L.P. lessened its holdings in shares of SMART Global Holdings (NASDAQ:SGH) by 55.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,608 shares of the company’s stock after selling 37,776 shares during the period. Alambic Investment Management L.P. owned 0.14% of SMART Global worth $1,526,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System bought a new position in SMART Global in the 3rd quarter worth about $868,000. Macquarie Group Ltd. boosted its stake in SMART Global by 274.2% in the 4th quarter. Macquarie Group Ltd. now owns 23,200 shares of the company’s stock worth $782,000 after purchasing an additional 17,000 shares in the last quarter. Park West Asset Management LLC boosted its stake in SMART Global by 505.0% in the 4th quarter. Park West Asset Management LLC now owns 1,398,009 shares of the company’s stock worth $47,113,000 after purchasing an additional 1,166,934 shares in the last quarter. Martingale Asset Management L P boosted its stake in SMART Global by 150.5% in the 4th quarter. Martingale Asset Management L P now owns 45,336 shares of the company’s stock worth $1,528,000 after purchasing an additional 27,236 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new position in SMART Global in the 3rd quarter worth about $919,000. Hedge funds and other institutional investors own 87.05% of the company’s stock.

In other news, VP Jack A. Pacheco sold 7,500 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $33.40, for a total transaction of $250,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bruce M. Goldberg sold 2,500 shares of the company’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $43.20, for a total transaction of $108,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,104,856 shares of company stock valued at $95,076,701. 6.90% of the stock is owned by insiders.

SGH has been the topic of a number of analyst reports. Needham & Company LLC upped their price target on shares of SMART Global from $46.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, March 23rd. Zacks Investment Research upgraded shares of SMART Global from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, March 28th. Stifel Nicolaus upped their price target on shares of SMART Global from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, March 23rd. Deutsche Bank upped their price target on shares of SMART Global from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, March 19th. Finally, BidaskClub upgraded shares of SMART Global from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 13th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. SMART Global currently has a consensus rating of “Buy” and a consensus target price of $51.19.

Shares of SMART Global opened at $42.83 on Friday, Marketbeat Ratings reports. SMART Global Holdings has a fifty-two week low of $11.50 and a fifty-two week high of $56.69. The company has a quick ratio of 1.08, a current ratio of 1.62 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $1.04 billion and a price-to-earnings ratio of 21.00.

SMART Global (NASDAQ:SGH) last issued its earnings results on Thursday, March 22nd. The company reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.40. SMART Global had a return on equity of 100.66% and a net margin of 5.50%. The business had revenue of $314.00 million during the quarter, compared to analyst estimates of $290.06 million. The business’s revenue for the quarter was up 82.6% on a year-over-year basis. sell-side analysts forecast that SMART Global Holdings will post 5.94 earnings per share for the current year.

About SMART Global

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

Institutional Ownership by Quarter for SMART Global (NASDAQ:SGH)

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