SMART Global (NASDAQ:SGH) Issues Q1 Earnings Guidance

SMART Global (NASDAQ:SGH) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.80-2.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.49. The company issued revenue guidance of $440-480 million, compared to the consensus revenue estimate of $457.34 million.SMART Global also updated its Q1 2022 guidance to $1.800-$2.200 EPS.

Shares of NASDAQ:SGH opened at $51.59 on Thursday. The company has a 50 day moving average price of $46.68 and a 200 day moving average price of $47.76. SMART Global has a 1-year low of $24.37 and a 1-year high of $58.39. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.05 and a current ratio of 1.64. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 166.84 and a beta of 0.94.

SMART Global (NASDAQ:SGH) last released its earnings results on Monday, October 11th. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.56. SMART Global had a net margin of 0.62% and a return on equity of 25.39%. The company had revenue of $467.71 million during the quarter, compared to the consensus estimate of $461.00 million. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue was up 57.5% compared to the same quarter last year. On average, sell-side analysts expect that SMART Global will post 3.52 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of SMART Global from $62.50 to $66.00 and gave the company a buy rating in a report on Wednesday, July 7th. They noted that the move was a valuation call. Needham & Company LLC raised their price target on shares of SMART Global from $75.00 to $85.00 and gave the company a buy rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of SMART Global from $66.00 to $70.00 and gave the company a buy rating in a report on Wednesday. TheStreet upgraded shares of SMART Global from a c rating to a b- rating in a report on Tuesday. Finally, Jefferies Financial Group raised their price target on shares of SMART Global from $65.00 to $72.00 and gave the company a buy rating in a report on Wednesday, July 7th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $66.43.

In other SMART Global news, Director Ajay Shah sold 11,647 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jack A. Pacheco sold 7,500 shares of the business’s stock in a transaction dated Friday, August 20th. The stock was sold at an average price of $42.09, for a total transaction of $315,675.00. Following the completion of the transaction, the chief operating officer now directly owns 97,909 shares of the company’s stock, valued at $4,120,989.81. The disclosure for this sale can be found here. Insiders sold a total of 26,647 shares of company stock worth $1,192,140 in the last quarter. Insiders own 4.10% of the company’s stock.

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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