Zacks: Brokerages Expect Smart Global Holdings Inc (SGH) Will Post Quarterly Sales of $381.54 Million

Equities analysts expect Smart Global Holdings Inc (NASDAQ:SGH) to report $381.54 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Smart Global’s earnings. The lowest sales estimate is $367.53 million and the highest is $402.00 million. Smart Global reported sales of $265.41 million during the same quarter last year, which would suggest a positive year over year growth rate of 43.8%. The company is expected to report its next earnings report on Thursday, December 20th.

According to Zacks, analysts expect that Smart Global will report full-year sales of $1.57 billion for the current year, with estimates ranging from $1.54 billion to $1.60 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.73 billion, with estimates ranging from $1.67 billion to $1.78 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Smart Global.

Smart Global (NASDAQ:SGH) last released its quarterly earnings data on Thursday, October 4th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.06. Smart Global had a net margin of 6.99% and a return on equity of 94.82%. The firm had revenue of $373.97 million for the quarter, compared to the consensus estimate of $368.51 million. During the same period last year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was up 67.7% on a year-over-year basis.

SGH has been the topic of a number of recent research reports. BidaskClub downgraded shares of Smart Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. Deutsche Bank increased their price objective on shares of Smart Global from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, June 12th. Stifel Nicolaus increased their price objective on shares of Smart Global from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. ValuEngine downgraded shares of Smart Global from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Zacks Investment Research downgraded shares of Smart Global from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.14.

Shares of NASDAQ SGH traded up $6.98 during midday trading on Tuesday, reaching $34.15. 7,268,890 shares of the company’s stock traded hands, compared to its average volume of 728,090. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.13 and a current ratio of 1.61. Smart Global has a one year low of $26.50 and a one year high of $56.69. The company has a market cap of $641.12 million, a PE ratio of 16.74 and a beta of -0.39.

In related news, VP Jack A. Pacheco sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $30.25, for a total transaction of $226,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Bruce M. Goldberg sold 3,600 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $32.04, for a total transaction of $115,344.00. The disclosure for this sale can be found here. Insiders have sold 84,731 shares of company stock valued at $2,611,889 in the last three months. 6.90% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Hillcrest Asset Management LLC purchased a new stake in Smart Global during the second quarter valued at approximately $3,624,000. Hennessy Advisors Inc. purchased a new position in shares of Smart Global in the second quarter worth $3,101,000. Oppenheimer & Co. Inc. purchased a new position in shares of Smart Global in the second quarter worth $285,000. Alambic Investment Management L.P. raised its holdings in shares of Smart Global by 171.2% in the second quarter. Alambic Investment Management L.P. now owns 83,011 shares of the company’s stock worth $2,646,000 after buying an additional 52,403 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of Smart Global in the first quarter worth $277,000. 83.48% of the stock is owned by institutional investors.

Smart Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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