SMART Global (SGH) to Release Quarterly Earnings on Tuesday

SMART Global (NASDAQ:SGH) will announce its earnings results after the market closes on Tuesday, October 15th. Analysts expect the company to announce earnings of $0.40 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings data on Tuesday, July 9th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. SMART Global had a positive return on equity of 8.86% and a negative net margin of 14.35%. The company had revenue of $300.58 million for the quarter, compared to analysts’ expectations of $300.00 million. During the same period in the previous year, the firm posted $0.46 EPS. SMART Global’s revenue was down 12.7% compared to the same quarter last year. 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 Trading Up 1.1 %

SGH stock opened at $20.82 on Tuesday. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. SMART Global has a 12-month low of $12.66 and a 12-month high of $29.81. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -6.76 and a beta of 1.67. The business’s 50-day moving average is $20.10 and its 200 day moving average is $21.43.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SGH. Barclays raised their target price on shares of SMART Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Needham & Company LLC lifted their price target on shares of SMART Global from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stifel Nicolaus lifted their price target on shares of SMART Global from $27.50 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price target on shares of SMART Global in a research report on Wednesday, July 3rd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $32.25.

Insider Activity

In other SMART Global news, insider Joseph Gates Clark sold 2,527 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $23.67, for a total value of $59,814.09. Following the sale, the insider now owns 82,518 shares of the company’s stock, valued at $1,953,201.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SMART Global news, insider Joseph Gates Clark sold 2,527 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $23.67, for a total value of $59,814.09. Following the sale, the insider now owns 82,518 shares of the company’s stock, valued at $1,953,201.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jack A. Pacheco sold 13,333 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $23.16, for a total transaction of $308,792.28. Following the completion of the transaction, the chief operating officer now owns 211,896 shares of the company’s stock, valued at approximately $4,907,511.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,527 shares of company stock valued at $1,062,413. 2.30% of the stock is currently owned by company insiders.

About SMART Global

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.