Rosenblatt Securities Believes Smart Global Holdings (NASDAQ: SGH) Won’t Stop Here

In a report released today, Kevin Cassidy from Rosenblatt Securities maintained a Buy rating on Smart Global Holdings (SGHResearch Report), with a price target of $60.00. The company’s shares closed last Thursday at $39.09, close to its 52-week high of $41.63.

According to TipRanks.com, Cassidy is a 5-star analyst with an average return of 25.5% and a 72.2% success rate. Cassidy covers the Technology sector, focusing on stocks such as Skyworks Solutions, ON Semiconductor, and Western Digital.

Currently, the analyst consensus on Smart Global Holdings is a Strong Buy with an average price target of $53.00, implying a 40.2% upside from current levels. In a report issued on January 4, Deutsche Bank also maintained a Buy rating on the stock with a $44.00 price target.

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The company has a one-year high of $41.63 and a one-year low of $16.42. Currently, Smart Global Holdings has an average volume of 214.6K.

Based on the recent corporate insider activity of 35 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.