Equities research analysts forecast that Smart Global Holdings Inc (NASDAQ:SGH) will post sales of $264.96 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Smart Global’s earnings. The lowest sales estimate is $264.88 million and the highest is $265.00 million. Smart Global reported sales of $335.48 million during the same quarter last year, which indicates a negative year-over-year growth rate of 21%. The company is expected to report its next quarterly earnings results on Thursday, June 20th.
According to Zacks, analysts expect that Smart Global will report full-year sales of $1.27 billion for the current year, with estimates ranging from $1.26 billion to $1.28 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.33 billion, with estimates ranging from $1.31 billion to $1.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Smart Global.
Smart Global (NASDAQ:SGH) last posted its earnings results on Thursday, March 28th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.12). The company had revenue of $304.10 million for the quarter, compared to analysts’ expectations of $317.27 million. Smart Global had a return on equity of 61.87% and a net margin of 7.49%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS.
A number of analysts have weighed in on the company. BidaskClub lowered Smart Global from a “hold” rating to a “sell” rating in a report on Tuesday. Roth Capital lowered their target price on Smart Global from $40.00 to $30.00 and set a “buy” rating for the company in a report on Friday, March 29th. Zacks Investment Research lowered Smart Global from a “hold” rating to a “strong sell” rating in a report on Thursday, April 4th. TheStreet downgraded Smart Global from a “c-” rating to a “d+” rating in a research report on Tuesday, April 30th. Finally, Barclays reduced their price target on Smart Global from $38.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, March 29th. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $40.00.
Smart Global stock opened at $20.18 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.92 and a debt-to-equity ratio of 0.78. The firm has a market cap of $462.67 million, a price-to-earnings ratio of 3.36, a P/E/G ratio of 0.43 and a beta of 0.35. Smart Global has a twelve month low of $18.27 and a twelve month high of $51.63.
In other news, Director Iain Mackenzie sold 10,000 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $28.78, for a total transaction of $287,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Bruce M. Goldberg sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $25.04, for a total value of $50,080.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,957 shares of company stock worth $894,839. Insiders own 4.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in Smart Global by 144.2% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,855 shares of the company’s stock valued at $55,000 after buying an additional 1,686 shares in the last quarter. Coastal Investment Advisors Inc. purchased a new position in Smart Global in the 1st quarter valued at about $293,000. Voya Investment Management LLC purchased a new position in Smart Global in the 1st quarter valued at about $328,000. Cerity Partners LLC lifted its stake in Smart Global by 139.0% in the 1st quarter. Cerity Partners LLC now owns 16,727 shares of the company’s stock valued at $321,000 after buying an additional 9,727 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Smart Global by 21.3% in the 1st quarter. Geode Capital Management LLC now owns 156,068 shares of the company’s stock valued at $2,996,000 after buying an additional 27,383 shares in the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.
About Smart Global
SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.
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