SMART Global (NASDAQ:SGH) Announces Quarterly Earnings Results

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.

In other SMART Global news, Director Ajay Shah sold 11,647 shares of the firm’s stock in a transaction that occurred on Tuesday, July 27th. The shares were sold at an average price of $45.00, for a total value of $524,115.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jack A. Pacheco sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $42.09, for a total transaction of $315,675.00. Following the completion of the sale, the chief operating officer now owns 97,909 shares in the company, valued at approximately $4,120,989.81. The disclosure for this sale can be found here. Insiders have sold a total of 26,647 shares of company stock worth $1,192,140 in the last quarter. 4.10% of the stock is currently owned by company insiders.

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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Earnings History for SMART Global (NASDAQ:SGH)

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