SMART Global (NASDAQ:SGH) Releases Quarterly Earnings Results

SMART Global (NASDAQ:SGH) announced its quarterly earnings results on Monday. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07, MarketWatch Earnings reports. SMART Global had a net margin of 0.06% and a return on equity of 16.65%. The company had revenue of $304.00 million for the quarter, compared to the consensus estimate of $295.57 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year.

SGH stock traded up $4.79 on Wednesday, hitting $53.50. 9,827 shares of the company were exchanged, compared to its average volume of 256,377. SMART Global has a twelve month low of $20.66 and a twelve month high of $50.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.98 and a quick ratio of 1.46. The business’s fifty day moving average is $46.54 and its two-hundred day moving average is $36.16. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 28.87 and a beta of 0.97.

In related news, SVP Alan Marten sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $40.00, for a total transaction of $112,000.00. Following the completion of the transaction, the senior vice president now owns 118,466 shares of the company’s stock, valued at $4,738,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lake Sumeru (Offshore) Silver sold 2,090,000 shares of the company’s stock in a transaction that occurred on Thursday, January 7th. The stock was sold at an average price of $40.30, for a total transaction of $84,227,000.00. The disclosure for this sale can be found here. Insiders have sold 2,124,792 shares of company stock valued at $85,781,692 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

SGH has been the topic of several recent research reports. Needham & Company LLC upped their price target on shares of SMART Global from $56.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of SMART Global from a “sell” rating to a “hold” rating in a report on Wednesday, March 10th. Barclays initiated coverage on shares of SMART Global in a research report on Wednesday. They issued an “overweight” rating for the company. Rosenblatt Securities boosted their price objective on shares of SMART Global from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 5th. Finally, Stifel Nicolaus boosted their price objective on shares of SMART Global from $55.00 to $62.50 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. SMART Global presently has a consensus rating of “Buy” and an average target price of $49.25.

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.

Read More: Quiet Period Expirations Explained

Earnings History for SMART Global (NASDAQ:SGH)

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SMART Global (NASDAQ:SGH) Releases Quarterly Earnings Results

SMART Global (NASDAQ:SGH) announced its quarterly earnings results on Monday. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07, MarketWatch Earnings reports. SMART Global had a net margin of 0.06% and a return on equity of 16.65%. The company had revenue of $304.00 million for the quarter, compared to the consensus estimate of $295.57 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year.

SGH stock traded up $4.79 on Wednesday, hitting $53.50. 9,827 shares of the company were exchanged, compared to its average volume of 256,377. SMART Global has a twelve month low of $20.66 and a twelve month high of $50.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.98 and a quick ratio of 1.46. The business’s fifty day moving average is $46.54 and its two-hundred day moving average is $36.16. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 28.87 and a beta of 0.97.

In related news, SVP Alan Marten sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $40.00, for a total transaction of $112,000.00. Following the completion of the transaction, the senior vice president now owns 118,466 shares of the company’s stock, valued at $4,738,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lake Sumeru (Offshore) Silver sold 2,090,000 shares of the company’s stock in a transaction that occurred on Thursday, January 7th. The stock was sold at an average price of $40.30, for a total transaction of $84,227,000.00. The disclosure for this sale can be found here. Insiders have sold 2,124,792 shares of company stock valued at $85,781,692 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

SGH has been the topic of several recent research reports. Stifel Nicolaus upped their price target on shares of SMART Global from $55.00 to $62.50 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC boosted their price objective on shares of SMART Global from $56.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities boosted their price objective on shares of SMART Global from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 5th. Barclays initiated coverage on shares of SMART Global in a research report on Wednesday. They issued an “overweight” rating for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of SMART Global from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. SMART Global presently has a consensus rating of “Buy” and an average target price of $49.25.

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.

Read More: Quiet Period Expirations Explained

Earnings History for SMART Global (NASDAQ:SGH)

Receive News & Ratings for SMART Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SMART Global and related companies with MarketBeat.com's FREE daily email newsletter.