SMART Global (NASDAQ:SGH) Posts Earnings Results


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SMART Global (NASDAQ:SGH) issued its quarterly earnings data on Monday. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $291.70 million during the quarter, compared to the consensus estimate of $291.24 million. During the same period last year, the company earned $0.55 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year.

NASDAQ SGH traded up $1.19 during trading hours on Wednesday, hitting $40.75. The company’s stock had a trading volume of 6,887 shares, compared to its average volume of 517,260. The company has a market capitalization of $1.01 billion, a PE ratio of -565.14 and a beta of 0.87. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.69. SMART Global has a 52 week low of $16.42 and a 52 week high of $40.82. The company’s 50-day simple moving average is $33.54 and its two-hundred day simple moving average is $28.28.

Several research firms have issued reports on SGH. Barclays raised their price target on shares of SMART Global from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 2nd. Stifel Nicolaus lifted their target price on shares of SMART Global from $32.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, December 22nd. Rosenblatt Securities upped their price target on shares of SMART Global from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered SMART Global from a “hold” rating to a “sell” rating in a research report on Wednesday, December 23rd. Finally, ValuEngine lowered SMART Global from a “hold” rating to a “sell” rating in a research report on Thursday, December 10th. Two research analysts have rated the stock with a sell rating, two have issued 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.

In related news, CFO Jack A. Pacheco sold 49,005 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $30.31, for a total value of $1,485,341.55. Following the completion of the sale, the chief financial officer now directly owns 86,272 shares of the company’s stock, valued at approximately $2,614,904.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jack A. Pacheco sold 3,495 shares of the firm’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $30.00, for a total value of $104,850.00. Following the transaction, the chief financial officer now owns 86,272 shares in the company, valued at $2,588,160. The disclosure for this sale can be found here. Insiders have sold a total of 60,000 shares of company stock valued at $1,816,122 over the last three months. Corporate insiders own 4.90% of the company’s stock.

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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