SMART Global (NASDAQ:SGH) released its quarterly earnings results on Monday. The company reported $2.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.56, Briefing.com reports. The firm had revenue of $467.71 million for the quarter, compared to analysts’ expectations of $461.00 million. SMART Global had a net margin of 0.62% and a return on equity of 25.39%. The business’s revenue was up 57.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS.
NASDAQ SGH opened at $43.81 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 141.32 and a beta of 0.94. The firm’s 50 day simple moving average is $46.72 and its 200 day simple moving average is $47.74. SMART Global has a 1 year low of $24.37 and a 1 year high of $58.39.
Several research firms have weighed in on SGH. Zacks Investment Research raised shares of SMART Global from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Tuesday, July 13th. TheStreet lowered shares of SMART Global from a “b-” rating to a “c+” rating in a research report on Tuesday, July 6th. Jefferies Financial Group increased their target price on shares of SMART Global from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 7th. Stifel Nicolaus increased their target price on shares of SMART Global from $62.50 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, July 7th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of SMART Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, SMART Global presently has an average rating of “Buy” and a consensus price target of $66.43.
SMART Global Company Profile
SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. The company specializes in application specific product development and support for customers in enterprise, government and original equipment manufacturer, or OEM, markets. It operates through the following segments: Specialty Memory Products, Brazil Products and Specialty Compute and Storage Solutions (SCSS).
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