Zacks: Analysts Anticipate Smart Global Holdings Inc (NASDAQ:SGH) Will Post Quarterly Sales of $285.07 Million

Brokerages expect Smart Global Holdings Inc (NASDAQ:SGH) to post sales of $285.07 million for the current quarter, Zacks reports. Three analysts have made estimates for Smart Global’s earnings, with the highest sales estimate coming in at $285.21 million and the lowest estimate coming in at $285.00 million. Smart Global reported sales of $373.97 million in the same quarter last year, which indicates a negative year-over-year growth rate of 23.8%. The business is expected to announce its next quarterly earnings results on Thursday, October 3rd.

According to Zacks, analysts expect that Smart Global will report full year sales of $1.22 billion for the current financial year. For the next year, analysts anticipate that the firm will post sales of $1.29 billion, with estimates ranging from $1.26 billion to $1.32 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Smart Global.

Smart Global (NASDAQ:SGH) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The business had revenue of $235.70 million for the quarter, compared to analyst estimates of $264.98 million. Smart Global had a return on equity of 40.99% and a net margin of 5.77%. The firm’s revenue for the quarter was down 29.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.84 earnings per share.



A number of analysts recently issued reports on the company. Roth Capital raised their price objective on Smart Global from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. BidaskClub downgraded Smart Global from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Deutsche Bank raised their price objective on Smart Global from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC raised their price objective on Smart Global to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, ValuEngine raised Smart Global from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.33.

Shares of NASDAQ:SGH traded up $0.57 during midday trading on Thursday, reaching $28.34. 170,000 shares of the company’s stock were exchanged, compared to its average volume of 229,982. The firm’s 50 day simple moving average is $28.71 and its two-hundred day simple moving average is $24.14. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.24 and a quick ratio of 1.66. The stock has a market cap of $640.96 million, a price-to-earnings ratio of 6.93, a P/E/G ratio of 0.63 and a beta of 1.24. Smart Global has a fifty-two week low of $16.94 and a fifty-two week high of $35.10.

In other Smart Global news, SVP Kiwan Kim sold 7,084 shares of Smart Global stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $31.77, for a total value of $225,058.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bruce M. Goldberg sold 2,267 shares of Smart Global stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $31.75, for a total value of $71,977.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,932 shares of company stock valued at $401,785. 4.20% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Yorktown Management & Research Co Inc boosted its stake in shares of Smart Global by 7.6% in the 1st quarter. Yorktown Management & Research Co Inc now owns 18,050 shares of the company’s stock valued at $347,000 after buying an additional 1,276 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Smart Global by 1,522.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 58,740 shares of the company’s stock valued at $1,350,000 after buying an additional 55,120 shares during the period. NumerixS Investment Technologies Inc boosted its stake in shares of Smart Global by 268.6% in the 1st quarter. NumerixS Investment Technologies Inc now owns 7,372 shares of the company’s stock valued at $176,000 after buying an additional 5,372 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Smart Global in the 2nd quarter valued at about $206,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Smart Global in the 1st quarter valued at about $288,000. Institutional investors and hedge funds own 95.83% of the company’s stock.

About Smart Global

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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