Wall Street analysts expect SMART Global Holdings, Inc. (NASDAQ:SGH) to report earnings of $1.10 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for SMART Global’s earnings. SMART Global posted earnings of $0.70 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 57.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, July 6th.
According to Zacks, analysts expect that SMART Global will report full-year earnings of $3.97 per share for the current financial year, with EPS estimates ranging from $3.92 to $4.04. For the next year, analysts anticipate that the company will post earnings of $5.07 per share, with EPS estimates ranging from $4.83 to $5.28. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for SMART Global.
SMART Global (NASDAQ:SGH) last issued its quarterly earnings data on Monday, April 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.07. The business had revenue of $304.00 million for the quarter, compared to the consensus estimate of $295.57 million. SMART Global had a return on equity of 16.65% and a net margin of 0.06%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 earnings per share.
Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on SMART Global from $48.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 7th. Needham & Company LLC upped their price target on SMART Global from $56.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, April 7th. Stifel Nicolaus upped their price target on SMART Global from $55.00 to $62.50 and gave the stock a “buy” rating in a research note on Wednesday, April 7th. Barclays assumed coverage on SMART Global in a research note on Wednesday, April 7th. They set an “overweight” rating and a $60.00 price target for the company. Finally, Zacks Investment Research upgraded SMART Global from a “sell” rating to a “hold” rating in a research note on Wednesday, March 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $60.50.
SMART Global stock traded down $0.76 during trading on Wednesday, hitting $55.14. The company’s stock had a trading volume of 2,993 shares, compared to its average volume of 296,088. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 30.88 and a beta of 0.97. The stock’s fifty day moving average is $46.85 and its 200 day moving average is $36.56. SMART Global has a 1-year low of $20.66 and a 1-year high of $56.37. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.46 and a current ratio of 1.98.
In related news, CFO Jack A. Pacheco sold 3,750 shares of the stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $46.25, for a total value of $173,437.50. Following the completion of the transaction, the chief financial officer now owns 95,206 shares of the company’s stock, valued at $4,403,277.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kiwan Kim sold 12,500 shares of the stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $46.22, for a total value of $577,750.00. Following the completion of the transaction, the executive vice president now directly owns 53,250 shares of the company’s stock, valued at approximately $2,461,215. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,792 shares of company stock valued at $1,554,692. Insiders own 4.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SGH. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SMART Global by 287.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,711 shares of the company’s stock valued at $64,000 after purchasing an additional 1,269 shares during the last quarter. Vantage Consulting Group Inc purchased a new position in SMART Global in the fourth quarter valued at about $73,000. Public Employees Retirement System of Ohio purchased a new position in SMART Global in the fourth quarter valued at about $134,000. Citigroup Inc. boosted its holdings in SMART Global by 274.1% in the fourth quarter. Citigroup Inc. now owns 3,610 shares of the company’s stock valued at $136,000 after purchasing an additional 2,645 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in SMART Global in the third quarter valued at about $201,000.
SMART Global Company Profile
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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