SMART Global Holdings Inc. (NASDAQ:SGH) currently has a daily average trading volume of 558.83K but it saw 1207894 shares traded on Thursday. With a market cap of 1.05B USD, stock’s current market price of $21.98 came rising about 7.80 while comparing to the previous closing price of $20.39. In past 52 weeks, the stock remained buoying in the range of price level as high as $25.40 and as low as $12.04. In the recent trading on the day, stock has struck highest price mark of $22.33 while lowest mark touched by it was $20.95.
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Taking a look at 20-day trading activity of SMART Global Holdings Inc. (SGH) gives us an average price of $17.60, while its current price level is -13.46% below from 52-week high level whereas it is 82.56% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $16.68 while that of 200 days or SMA-200 reads an average of $16.58. A closer look into the stock’s movement over the week reveals that its volatility is standing at 5.03% during that period while stretching the period over a month that decreases to 4.00%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 81.05 which implies that the stock is in overbought territory.
SMART Global Holdings Inc. (SGH)’s stock is currently under the radar of 6 analysts who are in consensus at a 12-month price target range of between $19.00 and $38.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $19.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $38.00. Average price target assigned by them is $24.83 which highlights an upside potential of 11.48% for the stock over that period. And to attain the median price target of $22.50 assigned by those analysts, stock has to add about 2.31% of value to its current levels.
Data by FactSet Research shows that 6 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 1 are advising it as an Overweight. 5 analysts suggested the investors to Buy the stock while 0 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Buy for the stock and that issued by Wall Street to investors is Strong Buy.
Over the week, SGH’s stock price is moving 13.59% up while it is 49.32% when we observe its performance for the past one month. Year-to-date it is 47.72% up and over the past year, the stock is showing a downside performance of -3.51%.
The latest quarterly earnings report issued by the company was for quarter ended 2/27/2023, when its quarterly earnings per share (EPS) of $0.76 beat the consensus estimate of $0.6 for the same. The company is expected to be releasing its next quarterly report in 06/22/2023, for which analysts forecasted an EPS of $0.4 while estimate for next year EPS is $2.32. For SGH, analysts are forecasting an EPS-growth rate of -35.90% for current year and estimate for EPS growth in next year is 3.00%. In next quarter, company is expected to be making quarterly sales of $375.89 million as analysts are expecting the sales for current fiscal year at $1.65 billion and seeing the company making $1.76 billion in sales next year. Moreover, analysts are in estimates of $375.5 million for current-quarter revenue.
Currently, SMART Global Holdings Inc.’s total number of outstanding shares is 49.12M with 4.81% of that held by the insiders while 103.30% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 9.60% and return on equity (ROE) at 6.10%. It has a price to earnings ratio (P/E ratio) of 57.84 while having a 9.19 of forward P/E ratio. Stock’s beta reads 1.38. Stock has a price to book (P/B) ratio of 3.32 while price to sale or P/S ratio amounts to 0.58. Its return on asset (ROA) is 1.30% on average.
A filing at the U.S. Securities and Exchange Commission revealed that iShares Core S&P Small Cap ETF came shrinking its share ownership by -0.16% in the SMART Global Holdings Inc. (SGH) decreasing its stake to 7.26% with control over 5695.0 shares in the company. As per SEC documents, iShares Core S&P Small Cap ETF sought 3,561,198 of company’s common stock of worth $54.91 million as per recent closing price of the stock. iShares Core S&P Small Cap ETF is not the only institutional holder which restructured its stake in SMART Global Holdings Inc., as Columbia Seligman Technology & In picked 3,151,596 shares of worth $48.6 million to bring its holdings to a total of 0.11 million shares.
