Jefferies Financial Group Equities Analysts Raise Earnings Estimates for Smart Global Holdings Inc (NASDAQ:SGH)

Smart Global Holdings Inc (NASDAQ:SGH) – Analysts at Jefferies Financial Group lifted their FY2019 EPS estimates for shares of Smart Global in a report released on Wednesday, July 10th. Jefferies Financial Group analyst M. Lipacis now expects that the company will post earnings per share of $2.91 for the year, up from their prior estimate of $2.84. Jefferies Financial Group also issued estimates for Smart Global’s Q4 2019 earnings at $0.52 EPS, Q2 2020 earnings at $0.57 EPS, Q3 2020 earnings at $0.59 EPS and FY2020 earnings at $3.26 EPS.

Other equities research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Xilinx from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC lowered their price target on shares of to $10.00 and set a “buy” rating for the company in a report on Wednesday. Deutsche Bank lifted their price target on shares of Welltower from $61.00 to $71.00 and gave the stock a “hold” rating in a report on Friday, March 29th. Finally, Zacks Investment Research upgraded shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Saturday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $35.33.

Shares of SGH opened at $31.47 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $701.44 million, a PE ratio of 5.25, a P/E/G ratio of 0.70 and a beta of 1.21. The business’s 50-day simple moving average is $20.53. Smart Global has a 12-month low of $16.94 and a 12-month high of $35.10.

Smart Global (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). The company had revenue of $235.70 million during the quarter, compared to analyst estimates of $264.98 million. Smart Global had a net margin of 5.77% and a return on equity of 40.99%. The firm’s revenue for the quarter was down 29.7% on a year-over-year basis. During the same quarter last year, the business earned $1.84 EPS.

In other Smart Global news, Director Iain Mackenzie sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $21.31, for a total transaction of $213,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bruce M. Goldberg sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $22.13, for a total transaction of $44,260.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,381 shares of company stock valued at $301,147. 4.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SGH. Park West Asset Management LLC acquired a new stake in Smart Global in the fourth quarter valued at $59,400,000. BlackRock Inc. raised its holdings in Smart Global by 137.4% in the fourth quarter. BlackRock Inc. now owns 1,661,267 shares of the company’s stock valued at $49,339,000 after acquiring an additional 961,590 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Smart Global by 26.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 535,401 shares of the company’s stock valued at $15,902,000 after acquiring an additional 112,077 shares in the last quarter. Kennedy Capital Management Inc. raised its holdings in Smart Global by 106.0% in the first quarter. Kennedy Capital Management Inc. now owns 455,125 shares of the company’s stock valued at $8,738,000 after acquiring an additional 234,183 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new stake in Smart Global in the fourth quarter valued at $13,005,000. Institutional investors own 97.83% of the company’s stock.

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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