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.
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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