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Smart Global Holdings (SGH) Received its Third Buy in a Row

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After Needham and Deutsche Bank gave Smart Global Holdings (NASDAQ: SGH) a Buy rating last month, the company received another Buy, this time from Rosenblatt Securities. Analyst Kevin Cassidy maintained a Buy rating on Smart Global Holdings yesterday and set a price target of $100.00. The company’s shares closed last Monday at $66.34.

According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 32.1% and a 74.0% success rate. Cassidy covers the Technology sector, focusing on stocks such as Skyworks Solutions, ON Semiconductor, and Western Digital.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Smart Global Holdings with a $84.83 average price target, representing a 35.0% upside. In a report issued on January 5, Needham also maintained a Buy rating on the stock with a $85.00 price target.

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Smart Global Holdings’ market cap is currently $1.5B and has a P/E ratio of -969.55.

Based on the recent corporate insider activity of 50 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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