SMART Global (NASDAQ:SGH) Announces Earnings Results

SMART Global (NASDAQ:SGH) released its earnings results on Monday. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.07, MarketWatch Earnings reports. SMART Global had a return on equity of 16.65% and a net margin of 0.06%. The firm had revenue of $304.00 million for the quarter, compared to analysts’ expectations of $295.57 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis.

SMART Global stock traded up $5.63 during trading on Wednesday, hitting $54.34. 68,121 shares of the company were exchanged, compared to its average volume of 256,377. The business’s 50 day moving average is $46.54 and its 200 day moving average is $36.16. SMART Global has a 52 week low of $20.66 and a 52 week high of $50.29. The company has a market capitalization of $1.35 billion, a P/E ratio of 28.87 and a beta of 0.97. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 0.71.

A number of research analysts have issued reports on SGH shares. Rosenblatt Securities lifted their target price on SMART Global from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 5th. Stifel Nicolaus lifted their price objective on SMART Global from $55.00 to $62.50 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on SMART Global from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays initiated coverage on SMART Global in a research note on Wednesday. They issued an “overweight” rating on the stock. Finally, Zacks Investment Research upgraded SMART Global from a “sell” rating to a “hold” rating in a report on Wednesday, March 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. SMART Global has a consensus rating of “Buy” and a consensus target price of $49.25.

In related news, SVP Alan Marten sold 2,800 shares of the company’s 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 sale, the senior vice president now owns 118,466 shares in the company, valued at $4,738,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lake Sumeru (Offshore) Silver sold 2,090,000 shares of the business’s stock in a transaction on 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. Insiders have sold 2,124,792 shares of company stock valued at $85,781,692 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

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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Earnings History for SMART Global (NASDAQ:SGH)

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