Rosenblatt Securities Maintains Their Buy Rating on Smart Global Holdings (SGH)

Rosenblatt Securities analyst Kevin Cassidy maintained a Buy rating on Smart Global Holdings (SGHResearch Report) today. The company’s shares closed last Friday at $25.38.

According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 22.4% and a 69.2% 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 $33.33.

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Based on Smart Global Holdings’ latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $297 million and net profit of $7.53 million. In comparison, last year the company earned revenue of $278 million and had a net profit of $5.63 million.

Based on the recent corporate insider activity of 26 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.