Zacks: Analysts Anticipate SMART Global Holdings, Inc. (NASDAQ:SGH) Will Announce Quarterly Sales of $295.96 Million

Equities research analysts expect SMART Global Holdings, Inc. (NASDAQ:SGH) to report $295.96 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for SMART Global’s earnings. The highest sales estimate is $297.50 million and the lowest is $294.98 million. SMART Global reported sales of $272.04 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.8%. The company is scheduled to announce its next quarterly earnings results on Tuesday, April 6th.

On average, analysts expect that SMART Global will report full-year sales of $1.24 billion for the current year, with estimates ranging from $1.23 billion to $1.25 billion. For the next financial year, analysts forecast that the company will post sales of $1.35 billion, with estimates ranging from $1.34 billion to $1.37 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow SMART Global.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings data on Monday, January 4th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.08. SMART Global had a return on equity of 16.65% and a net margin of 0.06%. The business had revenue of $291.70 million during the quarter, compared to analysts’ expectations of $291.24 million. During the same period in the previous year, the business earned $0.55 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year.

Several equities analysts have issued reports on the stock. Rosenblatt Securities increased their price objective on shares of SMART Global from $45.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of SMART Global from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 4th. Needham & Company LLC boosted their price objective on SMART Global from $39.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, January 6th. Stifel Nicolaus boosted their price target on SMART Global from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, February 10th. Finally, Zacks Investment Research downgraded SMART Global from a “hold” rating to a “sell” rating in a research note on Wednesday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $43.83.

SMART Global stock opened at $44.68 on Friday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 24.69 and a beta of 0.97. The company’s fifty day moving average price is $43.40 and its 200 day moving average price is $32.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.46 and a current ratio of 1.98. SMART Global has a 1 year low of $16.42 and a 1 year high of $50.29.

In other news, SVP Alan Marten sold 2,800 shares of the stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $40.00, for a total transaction of $112,000.00. Following the completion of the transaction, the senior vice president now directly owns 118,466 shares in the company, valued at approximately $4,738,640. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lake Sumeru (Offshore) Silver sold 2,090,000 shares of the firm’s stock in a transaction dated Thursday, January 7th. The stock was sold at an average price of $40.30, for a total value of $84,227,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,108,542 shares of company stock worth $85,030,505. Corporate insiders own 4.10% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Boston Partners increased its holdings in SMART Global by 21.8% in the 3rd quarter. Boston Partners now owns 267,984 shares of the company’s stock valued at $7,327,000 after purchasing an additional 47,884 shares during the last quarter. Foundry Partners LLC lifted its stake in SMART Global by 83.9% during the 4th quarter. Foundry Partners LLC now owns 80,655 shares of the company’s stock worth $3,035,000 after acquiring an additional 36,795 shares in the last quarter. Principal Financial Group Inc. grew its position in SMART Global by 7.5% in the 3rd quarter. Principal Financial Group Inc. now owns 124,602 shares of the company’s stock valued at $3,407,000 after acquiring an additional 8,711 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in SMART Global by 100.6% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 100,614 shares of the company’s stock worth $2,751,000 after purchasing an additional 50,459 shares during the period. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in shares of SMART Global during the third quarter worth about $4,648,000.

About SMART Global

SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. It offers dynamic random access memory (DRAM) modules for desktops, notebooks, and servers; and embedded and removable flash memory products; and flash component products, such as embedded multimedia controllers, and embedded and removal products in USB, CompactFlash and SD/microSD card configurations.

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