SMART Global (NASDAQ:SGH) Releases Q4 2021 Earnings Guidance

SMART Global (NASDAQ:SGH) issued an update on its fourth quarter 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.450-$1.750 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.230. The company issued revenue guidance of $440 million-$480 million, compared to the consensus revenue estimate of $439.35 million.

SGH opened at $48.55 on Thursday. The company has a 50-day moving average of $47.43. SMART Global has a 1 year low of $23.54 and a 1 year high of $58.39. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.64 and a quick ratio of 1.05. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 16.93 and a beta of 0.94.

SMART Global (NASDAQ:SGH) last posted its earnings results on Monday, July 5th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.30. SMART Global had a return on equity of 25.39% and a net margin of 0.62%. The company had revenue of $437.73 million for the quarter, compared to analyst estimates of $415.48 million. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was up 55.6% compared to the same quarter last year. As a group, research analysts predict that SMART Global will post 3.52 earnings per share for the current fiscal year.

SGH has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on SMART Global from $62.50 to $66.00 and gave the company a buy rating in a research note on Wednesday, July 7th. They noted that the move was a valuation call. Jefferies Financial Group raised their price target on SMART Global from $65.00 to $72.00 and gave the stock a buy rating in a report on Wednesday, July 7th. Needham & Company LLC raised their price target on SMART Global from $65.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, July 7th. Barclays assumed coverage on SMART Global in a report on Wednesday, April 7th. They issued an overweight rating and a $60.00 price target for the company. Finally, TheStreet downgraded SMART Global from a b- rating to a c+ rating in a report on Tuesday, July 6th. Seven research analysts have rated the stock with a buy rating, The stock has an average rating of Buy and a consensus target price of $64.43.

In related news, major shareholder Lake (Offshore) Aiv Gp Silver sold 3,000,000 shares of SMART Global stock in a transaction dated Tuesday, July 13th. The stock was sold at an average price of $50.50, for a total transaction of $151,500,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jack A. Pacheco sold 7,500 shares of SMART Global stock in a transaction dated Monday, June 21st. The stock was sold at an average price of $43.96, for a total value of $329,700.00. Following the sale, the chief operating officer now directly owns 98,652 shares of the company’s stock, valued at approximately $4,336,741.92. The disclosure for this sale can be found here. Insiders have sold 5,015,000 shares of company stock valued at $253,168,400 in the last ninety days. Corporate insiders own 4.10% 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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