SMART Global (NASDAQ:SGH) posted its quarterly earnings results on Tuesday. The company reported $2.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.56, Briefing.com reports. SMART Global had a net margin of 0.62% and a return on equity of 25.39%. The firm had revenue of $467.71 million during the quarter, compared to the consensus estimate of $461.00 million. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was up 57.5% on a year-over-year basis. SMART Global updated its Q1 2022 guidance to $1.800-$2.200 EPS and its Q1 guidance to $1.80-2.20 EPS.
SMART Global stock opened at $43.81 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.05 and a current ratio of 1.64. The stock has a market cap of $1.06 billion, a PE ratio of 141.32 and a beta of 0.94. The stock has a 50-day moving average of $46.72 and a two-hundred day moving average of $47.74. SMART Global has a one year low of $24.37 and a one year high of $58.39.
A number of research firms have commented on SGH. TheStreet downgraded shares of SMART Global from a “b-” rating to a “c+” rating in a research report on Tuesday, July 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of SMART Global from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, July 7th. Needham & Company LLC lifted their price target on SMART Global from $65.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 7th. Stifel Nicolaus upped their price objective on SMART Global from $62.50 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, July 7th. They noted that the move was a valuation call. Finally, Jefferies Financial Group lifted their target price on SMART Global from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 7th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $64.43.
About SMART Global
SMART Global Holdings, Inc designs and manufactures electronic products focused in memory and computing technology areas. 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: Specialty Memory Products, Brazil Products and Specialty Compute and Storage Solutions (SCSS).
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