Are Hedge Funds Betting Against SMART Global Holdings, Inc. (SGH)?

SMART Global Holdings, Inc. (NASDAQ:SGH) produced a 214.78% rally since recording the worst price of $11.50. Thanks to the latest -10.95% decrease, it now trades at $36.2. Throughout the trading on 11/24/2017, the share price floated between $35.9999 and $43.155. This company shares are 11.41% off its target price of $40.33 and the current market capitalization stands at $779.02M. The recent change has given its price a 22.83% lead over SMA 50 and -11.66% deficit over its 52-week high. The stock witnessed 19.95% gains, 96.74% gains and 173.62% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found SGH’s volatility during a week at 11.68% and during a month it has been found around 7.19%.

SMART Global Holdings, Inc. (SGH) Top Holders

Institutional investors currently hold around $813 million or 92.6% in SGH stock. Look at its top three institutional owners. Silver Lake Group, L.L.C. owns $579.54 million in SMART Global Holdings, Inc., which represents roughly 74.39% of the company’s market cap and approximately 71.28% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 1,044,823 shares of the stock are valued at $42.47 million. The third largest holder is Driehaus Capital Management Llc, which currently holds $33.08 million worth of this stock and that ownership represents nearly 4.25% of its market capitalization.

SMART Global Holdings, Inc. 13F Filings

At the end of 09/30/2017 reporting period, 50 institutional holders increased their position in SMART Global Holdings, Inc. (NASDAQ:SGH) by some 3,087,521 shares, 12 decreased positions by 2,202,404 and 7 held positions by 14,709,248. That puts total institutional holdings at 19,999,173 shares, according to SEC filings. The stock grabbed 45 new institutional investments totaling 1,841,286 shares while 7 institutional investors sold out their entire positions totaling 1,364,456 shares.

SMART Global Holdings, Inc. (NASDAQ:SGH) Insider Trades

Multiple company employees have indulged in significant insider trading. SMART Global Holdings, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Senior VP, CFO, COO Pacheco Jack A has sold 7,500 shares of SMART Global Holdings, Inc. (SGH) in trading session dated Nov. 21, 2017. These shares are worth $266,175 and were traded at $35.49 each. The SEC filing shows that Nayyar Sandeep performed a sale of 7,148 shares. The Director disposed these shares by way of transaction on Nov. 20, 2017. The company’s shares were given away at $35.2 per share worth to an income of some $251,610 on account of Nayyar Sandeep.

10% Owner, Silver Lake (Offshore) Aiv Gp, purchased 1,500,000 common shares of SMART Global Holdings, Inc. (SGH) in the open market. In a transaction dated May. 30, 2017, the shares were bought at an average price of $11, giving away a sum of $16,500,000. After this purchase, 14,256,755 common shares of SGH are directly owned by the insider, with total stake valued at $516,094,531.

In the transaction dated May. 30, 2017, the great number of shares acquired came courtesy the 10% Owner; Silver Lake Sumeru (Offshore) added a total of 1,500,000 shares at an average price of $11, amounting to approximately $16,500,000. The insider now directly owns 14,501,358 shares worth $524,949,160.

SMART Global Holdings, Inc. (SGH) Analyst Guide

Several analysts have released their opinion on SMART Global Holdings, Inc. (NASDAQ:SGH), with 6 analysts believing it is a strong buy. Whereas 0 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1 average brokerage recommendation.

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