SMART Global (SGH) Scheduled to Post Earnings on Tuesday

SMART Global (NASDAQ:SGH) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, July 9th. Analysts expect SMART Global to post earnings of $0.30 per share for the quarter. SMART Global has set its Q3 guidance at $0.15-0.45 EPS and its Q3 2024 guidance at 0.150-0.450 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

SMART Global (NASDAQ:SGH) last released its quarterly earnings data on Tuesday, April 9th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The firm had revenue of $284.82 million for the quarter, compared to analyst estimates of $285.18 million. On average, analysts expect SMART Global to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

SMART Global Stock Performance

Shares of SGH stock opened at $22.42 on Tuesday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.09 and a beta of 1.69. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. The business’s 50-day moving average price is $20.48 and its 200-day moving average price is $21.13. SMART Global has a 12 month low of $12.66 and a 12 month high of $29.09.

Analysts Set New Price Targets

Several research firms have recently weighed in on SGH. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price objective on shares of SMART Global in a research report on Tuesday, May 7th. Rosenblatt Securities restated a “buy” rating and issued a $35.00 price target on shares of SMART Global in a report on Thursday, June 27th. Finally, Stifel Nicolaus raised their price target on shares of SMART Global from $26.00 to $27.50 and gave the stock a “buy” rating in a report on Wednesday, April 10th.

Insider Activity at SMART Global

In related news, insider Joseph Gates Clark sold 2,529 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total transaction of $45,370.26. Following the transaction, the insider now directly owns 92,386 shares of the company’s stock, valued at $1,657,404.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SMART Global news, insider Joseph Gates Clark sold 2,529 shares of SMART Global stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total value of $45,370.26. Following the sale, the insider now owns 92,386 shares of the company’s stock, valued at $1,657,404.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Adams acquired 10,000 shares of the stock in a transaction on Thursday, April 11th. The stock was bought at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the transaction, the chief executive officer now owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.

SMART Global Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.