Saturday, April 10, 2021

why SMART Global Holdings Inc. [SGH] is a Good Choice for Investors After New Price Target of $52.80

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SMART Global Holdings Inc. [NASDAQ: SGH] surged by $5.84 during the normal trading session on Wednesday and reaching a high of $54.86 during the day while it closed the day at $54.55. The company report on April 7, 2021 that Penguin Computing Expands Relion® Product Family with 3rd Generation Intel Xeon Scalable Processors.

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Penguin Computing LiveData™ and TrueHPC™ are now integrated to drive innovation in big memory and HPC.

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Penguin Computing, a division of SMART Global Holdings, Inc. (Nasdaq: SGH), and leader in high-performance computing (HPC), artificial intelligence (AI) and enterprise data center solutions, announced that the Penguin Computing Relion family of Linux-based servers including LiveData and TrueHPC, is now available with the latest 3rd Gen Intel Xeon Scalable processors. The 3rd Gen Intel Xeon Scalable processors offer a balanced architecture with built-in acceleration and advanced security capabilities.

SMART Global Holdings Inc. stock has also gained 24.17% of its value over the past 7 days. However, SGH stock has inclined by 37.89% in the 3 months of the year. Over the past six months meanwhile, it has gained 123.29% and gained 44.96% year-on date.

The market cap for SGH stock reached $1.28 billion, with 24.56 million shares outstanding and 16.33 million shares in the current float. Compared to the average trading volume of 242.57K shares, SGH reached a trading volume of 2071349 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about SMART Global Holdings Inc. [SGH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SGH shares is $52.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SGH stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for SMART Global Holdings Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 07, 2021. While these analysts kept the previous recommendation, Needham raised their target price from $56 to $65. The new note on the price target was released on April 07, 2021, representing the official price target for SMART Global Holdings Inc. stock. Previously, the target price had yet another raise from $39 to $56, while Needham kept a Buy rating on SGH stock.

The Average True Range (ATR) for SMART Global Holdings Inc. is set at 2.51, with the Price to Sales ratio for SGH stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 4.81, with the Price to Cash per share for the same quarter was set at 6.99. Price to Free Cash Flow for SGH in the course of the last twelve months was 23.04 with Quick ratio for the last quarter at 1.50.

SGH stock trade performance evaluation

SMART Global Holdings Inc. [SGH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.17. With this latest performance, SGH shares gained by 24.15% in over the last four-week period, additionally plugging by 123.29% over the last 6 months – not to mention a rise of 129.49% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SGH stock in for the last two-week period is set at 71.82, with the RSI for the last a single of trading hit 78.20, and the three-weeks RSI is set at 68.11 for SMART Global Holdings Inc. [SGH]. The present Moving Average for the last 50 days of trading for this stock 45.13, while it was recorded at 49.46 for the last single week of trading, and 33.24 for the last 200 days.

SMART Global Holdings Inc. [SGH]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and SMART Global Holdings Inc. [SGH] shares currently have an operating margin of +3.99 and a Gross Margin at +18.29. SMART Global Holdings Inc.’s Net Margin is presently recorded at -0.10.

Return on Total Capital for SGH is now 9.11, given the latest momentum, and Return on Invested Capital for the company is -0.24. Return on Equity for this stock declined to -0.41, with Return on Assets sitting at -0.15. When it comes to the capital structure of this company, SMART Global Holdings Inc. [SGH] has a Total Debt to Total Equity ratio set at 78.59. Additionally, SGH Total Debt to Total Capital is recorded at 44.01, with Total Debt to Total Assets ending up at 28.19. Long-Term Debt to Equity for the company is recorded at 76.71, with the Long-Term Debt to Total Capital now at 42.95.

Reflecting on the efficiency of the workforce at the company, SMART Global Holdings Inc. [SGH] managed to generate an average of -$652 per employee. Receivables Turnover for the company is 4.84 with a Total Asset Turnover recorded at a value of 1.51.SMART Global Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.00.

Earnings per share (EPS) analysis for SMART Global Holdings Inc. [SGH] stock

With the latest financial reports released by the company, SMART Global Holdings Inc. posted 0.7/share EPS, while the average EPS was predicted by analysts to be reported at 0.67/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SGH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SMART Global Holdings Inc. go to 21.50%.

SMART Global Holdings Inc. [SGH]: Insider Ownership positions

There are presently around $1,415 million, in the hands of institutional investors. The top three institutional holders of SGH stocks are: SILVER LAKE GROUP, L.L.C. with ownership of 9,256,755, which is approximately 0% of the company’s market cap and around 3.80% of the total institutional ownership; BLACKROCK INC., holding 2,181,250 shares of the stock with an approximate value of $118.99 million in SGH stocks shares; and AMERIPRISE FINANCIAL INC, currently with $104.72 million in SGH stock with ownership of nearly 3.268% of the company’s market capitalization.

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Positions in SMART Global Holdings Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 67 institutional holders increased their position in SMART Global Holdings Inc. [NASDAQ:SGH] by around 1,894,485 shares. Additionally, 59 investors decreased positions by around 1,252,189 shares, while 16 investors held positions by with 22,800,105 shares. The mentioned changes placed institutional holdings at 25,946,779 shares, according to the latest SEC report filing. SGH stock had 26 new institutional investments in for a total of 603,963 shares, while 11 institutional investors sold positions of 162,064 shares during the same period.

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