SMART Global Holdings, Inc. SGH reported better-than-expected Q1 results after Tuesday’s closing bell.

SMART Global reported adjusted earnings of $0.79 per share, beating analyst estimates of $0.57 per share. The company’s quarterly revenue was $465.00 million versus expectations of $447.70 million.

SMART Global shares gained 5.8% to trade at $15.99 on Wednesday.

These analysts made changes to their price targets for SMART Global after the results were released.

• Barclays raised the target price on SMART Global from $15 to $20. Barclays analyst Tom O’Malley maintained an overweight stance on the stock.
• Deutsche Bank lower price target from $24 to $20. Deutsche Bank analyst Sidney Ho kept the stock with a buy rating.
• Needham raised the price target on the stock to $25 from $23. Needham analyst Rajvindra Gill maintained the stock with a buy.