SMART Global (NASDAQ:SGH) Issues Q3 2021 After-Hours Earnings Guidance

SMART Global (NASDAQ:SGH) issued an update on its third quarter 2021
After-Hours earnings guidance on Tuesday morning. The company provided EPS guidance of 1.00-1.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.90. The company issued revenue guidance of $400-430 million, compared to the consensus revenue estimate of $314.01 million.

Shares of SGH stock traded up $0.30 during trading hours on Tuesday, hitting $49.78. 11,163 shares of the company’s stock were exchanged, compared to its average volume of 254,631. The company has a quick ratio of 1.46, a current ratio of 1.98 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.23 billion, a P/E ratio of 27.34 and a beta of 0.97. The firm has a 50 day moving average of $46.49 and a two-hundred day moving average of $36.05. SMART Global has a fifty-two week low of $20.66 and a fifty-two week high of $50.29.

SMART Global (NASDAQ:SGH) last announced its earnings results on Monday, January 4th. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.08. The business had revenue of $291.70 million during the quarter, compared to the consensus estimate of $291.24 million. SMART Global had a return on equity of 16.65% and a net margin of 0.06%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS. On average, equities analysts forecast that SMART Global will post 2.61 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on SGH shares. Needham & Company LLC upped their target price on SMART Global from $39.00 to $56.00 and gave the stock a buy rating in a research note on Wednesday, January 6th. Deutsche Bank Aktiengesellschaft increased their price objective on SMART Global from $35.00 to $44.00 and gave the company a buy rating in a research note on Monday, January 4th. Zacks Investment Research raised SMART Global from a sell rating to a hold rating in a research note on Wednesday, March 10th. Rosenblatt Securities increased their price objective on SMART Global from $45.00 to $55.00 and gave the company a buy rating in a research note on Tuesday, January 5th. Finally, Stifel Nicolaus increased their price objective on SMART Global from $48.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, February 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. SMART Global has an average rating of Buy and a consensus target price of $43.83.

In other news, EVP Kiwan Kim sold 12,500 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $42.91, for a total transaction of $536,375.00. Following the completion of the transaction, the executive vice president now directly owns 57,685 shares in the company, valued at approximately $2,475,263.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lake Sumeru (Offshore) Silver sold 2,090,000 shares of the stock in a transaction on Thursday, January 7th. The stock was sold at an average price of $40.30, for a total value of $84,227,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,124,792 shares of company stock valued at $85,781,692 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

About SMART Global

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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