Wall Street brokerages expect Smart Global Holdings Inc (NASDAQ:SGH) to post $255.04 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Smart Global’s earnings, with estimates ranging from $255.00 million to $255.10 million. The company is expected to report its next earnings report after the market closes on Thursday, December 21st.

According to Zacks, analysts expect that Smart Global will report full year sales of $255.04 million for the current year, with estimates ranging from $1.02 billion to $1.07 billion. For the next financial year, analysts expect that the firm will report sales of $1.11 billion per share, with estimates ranging from $1.03 billion to $1.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Smart Global.

Smart Global (NASDAQ:SGH) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.15. The company had revenue of $223.00 million during the quarter, compared to the consensus estimate of $210.54 million. The firm’s quarterly revenue was up 52.5% compared to the same quarter last year.

Several research firms recently issued reports on SGH. Citigroup lifted their price objective on Smart Global to $35.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. They noted that the move was a valuation call. Barclays lifted their price objective on Smart Global from $19.00 to $28.00 and gave the company a “positive” rating in a research note on Friday, September 29th. Jefferies Group reissued a “buy” rating and set a $28.50 price objective (up previously from $23.00) on shares of Smart Global in a research note on Monday, October 2nd. Deutsche Bank reissued a “buy” rating and set a $28.00 price objective (up previously from $25.00) on shares of Smart Global in a research note on Monday, October 2nd. Finally, Needham & Company LLC lifted their price objective on Smart Global from $23.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $36.06.

Smart Global (SGH) opened at $29.39 on Friday. Smart Global has a twelve month low of $11.50 and a twelve month high of $43.15. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 1.87.

In other Smart Global news, Director Sandeep Nayyar sold 7,148 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $35.20, for a total transaction of $251,609.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lake Sumeru (Offshore) Silver sold 3,051,471 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $32.10, for a total value of $97,952,219.10. The disclosure for this sale can be found here. Insiders have sold 3,256,622 shares of company stock valued at $104,585,150 in the last three months.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spark Investment Management LLC purchased a new position in shares of Smart Global in the second quarter worth about $184,000. Canada Pension Plan Investment Board purchased a new position in shares of Smart Global in the second quarter worth about $10,231,000. Symphony Asset Management LLC purchased a new position in shares of Smart Global in the second quarter worth about $1,286,000. Ameriprise Financial Inc. purchased a new position in shares of Smart Global in the second quarter worth about $7,126,000. Finally, Laurion Capital Management LP purchased a new position in shares of Smart Global in the second quarter worth about $324,000. Institutional investors and hedge funds own 92.18% of the company’s stock.

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Smart Global Company Profile

Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.

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Earnings History and Estimates for Smart Global (NASDAQ:SGH)

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