SMART Global (NASDAQ:SGH) Releases Earnings Results, Beats Estimates By $0.08 EPS


Share on StockTwits

SMART Global (NASDAQ:SGH) posted its earnings results on Monday. The company reported $0.78 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $291.24 million. During the same quarter last year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis.

Shares of NASDAQ SGH traded up $1.16 during midday trading on Wednesday, hitting $40.72. 12,204 shares of the stock traded hands, compared to its average volume of 517,260. The firm has a 50-day moving average of $33.54 and a two-hundred day moving average of $28.28. The firm has a market capitalization of $1.01 billion, a P/E ratio of -565.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.39 and a current ratio of 1.97. SMART Global has a one year low of $16.42 and a one year high of $40.82.

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

A number of analysts recently commented on the company. Stifel Nicolaus increased their price target on SMART Global from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, December 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on SMART Global from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Monday. ValuEngine lowered SMART Global from a “hold” rating to a “sell” rating in a research note on Thursday, December 10th. BidaskClub lowered SMART Global from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 16th. Finally, Rosenblatt Securities lifted their price target on SMART Global from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. SMART Global currently has an average rating of “Hold” and a consensus 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.

Read More: What is a Lock-Up Period?

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.