Smart Global Holdings Inc Gets a Buy Rating from Needham

By Ryan Adsit

Needham analyst Rajvindra Gill reiterated a Buy rating on Smart Global Holdings Inc (NASDAQ: SGH) today and set a price target of $46. The company’s shares opened today at $34.14.

According to TipRanks.com, Gill is a top 100 analyst with an average return of 21.2% and a 64.9% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Adesto Technologies Corp, and Silicon Laboratories.

Currently, the analyst consensus on Smart Global Holdings Inc is Strong Buy and the average price target is $43, representing a 26.0% upside.

In a report issued on December 22, Stifel Nicolaus also reiterated a Buy rating on the stock with a $47 price target.

Based on Smart Global Holdings Inc’s latest earnings report for the quarter ending November 30, the company posted quarterly revenue of $265 million and quarterly net profit of $21.01 million. In comparison, last year the company earned revenue of $159 million and had a GAAP net loss of $3.21 million.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock.

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SMART Global Holdings, Inc. is a designer, manufacturer and supplier of electronic subsystems to OEMs. It is engaged in 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.