SMART Global (NASDAQ:SGH) Releases Q3 2021 Earnings Guidance

SMART Global (NASDAQ:SGH) updated its third quarter 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.000-1.200 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.900. The company issued revenue guidance of $400 million-$430 million, compared to the consensus revenue estimate of $314.01 million.

SGH has been the topic of a number of research reports. TheStreet upgraded shares of SMART Global from a c+ rating to a b- rating in a report on Tuesday, April 6th. Deutsche Bank Aktiengesellschaft upped their price objective on SMART Global from $48.00 to $60.00 and gave the company a buy rating in a research report on Wednesday, April 7th. Stifel Nicolaus lifted their target price on SMART Global from $55.00 to $62.50 and gave the stock a buy rating in a report on Wednesday, April 7th. Needham & Company LLC increased their price target on SMART Global from $56.00 to $65.00 and gave the company a buy rating in a report on Tuesday, April 13th. Finally, Zacks Investment Research upgraded SMART Global from a hold rating to a strong-buy rating and set a $64.00 price target for the company in a research report on Tuesday, April 13th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. SMART Global has a consensus rating of Buy and an average target price of $61.08.

SMART Global stock traded down $1.40 during trading hours on Tuesday, hitting $45.68. The company had a trading volume of 333,403 shares, compared to its average volume of 326,513. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.46 and a current ratio of 1.98. The firm has a market cap of $1.13 billion, a P/E ratio of 26.01 and a beta of 0.97. The company has a 50-day moving average price of $49.87 and a two-hundred day moving average price of $39.87. SMART Global has a 1 year low of $23.54 and a 1 year high of $57.69.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings results on Monday, April 5th. The company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.07. SMART Global had a net margin of 0.06% and a return on equity of 16.65%. The firm had revenue of $304.00 million during the quarter, compared to the consensus estimate of $295.57 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that SMART Global will post 2.61 EPS for the current year.

In related news, SVP Alan Marten sold 3,242 shares of the business’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $47.85, for a total value of $155,129.70. Following the completion of the transaction, the senior vice president now owns 118,908 shares of the company’s stock, valued at $5,689,747.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lake (Offshore) Aiv Gp Silver sold 2,000,000 shares of the business’s stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $50.50, for a total transaction of $101,000,000.00. The disclosure for this sale can be found here. Insiders have sold 2,032,365 shares of company stock valued at $102,463,465 in the last ninety days. Insiders own 4.10% of the company’s stock.

SMART Global Company Profile

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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