Analysts expect that SMART Global Holdings, Inc. (NASDAQ:SGH) will post sales of $460.00 million for the current quarter, Zacks reports. Two analysts have made estimates for SMART Global’s earnings. SMART Global posted sales of $291.70 million during the same quarter last year, which suggests a positive year over year growth rate of 57.7%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, January 4th.
On average, analysts expect that SMART Global will report full-year sales of $1.82 billion for the current financial year, with estimates ranging from $1.81 billion to $1.83 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover SMART Global.
SMART Global (NASDAQ:SGH) last announced its quarterly earnings results on Tuesday, October 12th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.56. The company had revenue of $467.71 million for the quarter, compared to analysts’ expectations of $461.00 million. SMART Global had a net margin of 1.42% and a return on equity of 35.17%. SMART Global’s revenue was up 57.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS.
A number of equities analysts have weighed in on SGH shares. Needham & Company LLC boosted their target price on SMART Global from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, October 13th. Deutsche Bank Aktiengesellschaft boosted their target price on SMART Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 13th. Zacks Investment Research raised SMART Global from a “hold” rating to a “strong-buy” rating and set a $59.00 target price for the company in a research report on Wednesday, October 20th. Finally, TheStreet raised SMART Global from a “c” rating to a “b-” rating in a research report on Tuesday, October 12th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $66.71.
In other news, Director Mukesh Patel sold 26,959 shares of the stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $51.34, for a total transaction of $1,384,075.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ajay Shah sold 20,478 shares of the stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $54.09, for a total value of $1,107,655.02. The disclosure for this sale can be found here. Insiders sold a total of 160,406 shares of company stock valued at $8,352,243 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in SGH. Jefferies Group LLC raised its holdings in SMART Global by 1,598.9% during the 2nd quarter. Jefferies Group LLC now owns 477,073 shares of the company’s stock valued at $22,747,000 after buying an additional 448,991 shares during the period. FMR LLC purchased a new stake in SMART Global during the 1st quarter valued at $7,757,000. Peregrine Capital Management LLC purchased a new stake in SMART Global in the third quarter worth $14,555,000. Clearbridge Investments LLC increased its stake in SMART Global by 673.2% in the second quarter. Clearbridge Investments LLC now owns 231,019 shares of the company’s stock worth $11,015,000 after purchasing an additional 201,140 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in SMART Global in the third quarter worth $8,211,000.
Shares of SMART Global stock opened at $61.15 on Friday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 77.41 and a beta of 1.01. The firm’s 50-day moving average is $54.80 and its 200 day moving average is $50.04. SMART Global has a 1 year low of $32.37 and a 1 year high of $63.60. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.63 and a quick ratio of 1.01.
About SMART Global
SMART Global Holdings, Inc designs and manufactures specialty solutions for the computing, memory, and LED markets. The company specializes in application specific product development and support for customers in enterprise, government and original equipment manufacturer, or OEM, markets. It operates through the following segments: Memory Solutions, Intelligent Platform Solutions (IPS), and LED Solutions.
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