Zacks: Analysts Expect Smart Global Holdings Inc (SGH) Will Announce Quarterly Sales of $290.11 Million

Wall Street brokerages forecast that Smart Global Holdings Inc (NASDAQ:SGH) will report $290.11 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Smart Global’s earnings. The highest sales estimate is $290.34 million and the lowest is $289.98 million. The firm is scheduled to issue its next earnings report on Thursday, March 15th.

On average, analysts expect that Smart Global will report full year sales of $290.11 million for the current fiscal year, with estimates ranging from $1.06 billion to $1.16 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.28 billion per share, with estimates ranging from $1.17 billion to $1.42 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Smart Global.

Smart Global (NASDAQ:SGH) last issued its earnings results on Thursday, December 21st. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.92 by $0.13. The firm had revenue of $265.40 million during the quarter, compared to analyst estimates of $255.03 million. The business’s revenue was up 66.6% on a year-over-year basis.

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Smart Global to $35.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. They noted that the move was a valuation call. Needham & Company LLC restated a “buy” rating and issued a $46.00 target price on shares of Smart Global in a research report on Thursday, January 18th. Stifel Nicolaus boosted their target price on shares of Smart Global from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Deutsche Bank boosted their target price on shares of Smart Global from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Finally, Roth Capital boosted their target price on shares of Smart Global to $50.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Smart Global currently has a consensus rating of “Buy” and a consensus price target of $39.19.

In related news, SVP Kiwan Kim sold 6,874 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $35.86, for a total transaction of $246,501.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alan Marten sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $32.10, for a total transaction of $802,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,360,955 shares of company stock valued at $108,297,601. 6.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in SGH. SG Americas Securities LLC acquired a new position in Smart Global during the 3rd quarter worth approximately $103,000. Legal & General Group Plc acquired a new position in Smart Global during the 3rd quarter worth approximately $133,000. Strs Ohio acquired a new position in Smart Global during the 3rd quarter worth approximately $158,000. Macquarie Group Ltd. acquired a new position in Smart Global during the 3rd quarter worth approximately $166,000. Finally, Stifel Financial Corp acquired a new position in Smart Global during the 2nd quarter worth approximately $169,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

Smart Global (SGH) opened at $32.57 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.97 and a debt-to-equity ratio of 1.50. Smart Global has a 12-month low of $11.50 and a 12-month high of $43.15.

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About Smart Global

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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