SGH - Why Smart Global Stock Was Winning This Week
2023-06-16 10:06:10 ET
Semiconductor maker Smart Global Holdings (NASDAQ: SGH) has been a smart stock to buy over the past few days.
Its price had risen almost 13% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence . The company operates in a popular segment now, as advanced semiconductors are associated with artificial intelligence (AI), plus several analysts recently raised their price targets on its stock. Oh, and it also announced the divestment of a South American subsidiary.
Smart's bull week effectively started on Tuesday, when the company announced that it was selling 81% of Brazilian unit Smart Modular Technologies do Brasil-Industria e Comercio de Componentes. The buyer is Lexar Europe, and the price is roughly $166 million. The deal will be in cash.
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Why Smart Global Stock Was Winning This Week