SMART Global (NASDAQ:SGH) Releases Quarterly Earnings Results

SMART Global (NASDAQ:SGH) announced its quarterly earnings data on Monday. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.08, MarketWatch Earnings reports. SMART Global had a positive return on equity of 16.80% and a negative net margin of 0.10%. The business had revenue of $291.70 million during the quarter, compared to the consensus estimate of $291.24 million. During the same period in the prior year, the company earned $0.55 EPS. SMART Global’s revenue for the quarter was up 7.2% on a year-over-year basis.

SGH stock traded down $0.55 during midday trading on Wednesday, hitting $39.01. The company’s stock had a trading volume of 1,489 shares, compared to its average volume of 517,260. SMART Global has a 12 month low of $16.42 and a 12 month high of $40.82. The company has a 50 day moving average of $33.54 and a two-hundred day moving average of $28.28. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $966.39 million, a price-to-earnings ratio of -565.14 and a beta of 0.87.

In other news, CFO Jack A. Pacheco sold 49,005 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $30.31, for a total transaction of $1,485,341.55. Following the sale, the chief financial officer now directly owns 86,272 shares in the company, valued at approximately $2,614,904.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Adams purchased 9,820 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The stock was bought at an average price of $25.99 per share, with a total value of $255,221.80. Following the transaction, the chief executive officer now owns 475,000 shares of the company’s stock, valued at approximately $12,345,250. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 60,000 shares of company stock valued at $1,816,122. 4.90% of the stock is owned by company insiders.

A number of research analysts recently weighed in on SGH shares. Needham & Company LLC raised their price target on shares of SMART Global from $39.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus boosted their target price on SMART Global from $32.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, December 22nd. Rosenblatt Securities boosted their target price on SMART Global from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on SMART Global from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Barclays boosted their price objective on shares of SMART Global from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, October 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. SMART Global currently has a consensus rating of “Hold” and an average price target of $41.43.

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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Earnings History for SMART Global (NASDAQ:SGH)

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