SMART Global Holdings, Inc. (NASDAQ:SGH) Expected to Announce Quarterly Sales of $461.66 Million

Equities research analysts expect SMART Global Holdings, Inc. (NASDAQ:SGH) to report $461.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for SMART Global’s earnings. The highest sales estimate is $465.00 million and the lowest is $459.97 million. SMART Global reported sales of $297.03 million in the same quarter last year, which would suggest a positive year over year growth rate of 55.4%. The firm is expected to report its next earnings report on Thursday, October 7th.

According to Zacks, analysts expect that SMART Global will report full year sales of $1.50 billion for the current fiscal year, with estimates ranging from $1.49 billion to $1.50 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.82 billion, with estimates ranging from $1.81 billion to $1.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow SMART Global.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings data on Monday, July 5th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.30. The company had revenue of $437.73 million during the quarter, compared to analysts’ expectations of $415.48 million. SMART Global had a return on equity of 25.39% and a net margin of 0.62%. SMART Global’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share.

Several analysts recently issued reports on the company. Jefferies Financial Group upped their target price on SMART Global from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 7th. Needham & Company LLC upped their target price on SMART Global from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 7th. Stifel Nicolaus upped their target price on SMART Global from $62.50 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, July 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded SMART Global from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Tuesday, July 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on SMART Global from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, July 7th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $64.43.

In related news, Director Ajay Shah sold 11,647 shares of the stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $45.00, for a total transaction of $524,115.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jack A. Pacheco sold 7,500 shares of the firm’s stock in a transaction on Friday, August 20th. The shares were sold at an average price of $42.09, for a total value of $315,675.00. Following the completion of the sale, the chief operating officer now directly owns 97,909 shares in the company, valued at approximately $4,120,989.81. The disclosure for this sale can be found here. Insiders have sold 3,034,147 shares of company stock worth $153,021,840 in the last three months. 4.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in shares of SMART Global by 3.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 5,976 shares of the company’s stock valued at $285,000 after acquiring an additional 226 shares during the last quarter. Hancock Whitney Corp lifted its stake in shares of SMART Global by 2.8% in the 1st quarter. Hancock Whitney Corp now owns 11,109 shares of the company’s stock valued at $511,000 after acquiring an additional 299 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of SMART Global by 1.6% in the 1st quarter. California State Teachers Retirement System now owns 22,051 shares of the company’s stock valued at $1,015,000 after acquiring an additional 340 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of SMART Global by 2.2% in the 1st quarter. Prudential Financial Inc. now owns 16,965 shares of the company’s stock valued at $781,000 after acquiring an additional 360 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of SMART Global by 1.3% in the 1st quarter. Nuveen Asset Management LLC now owns 49,704 shares of the company’s stock valued at $2,288,000 after acquiring an additional 629 shares during the last quarter.

Shares of SGH stock traded down $0.19 on Tuesday, hitting $48.95. 235,490 shares of the stock were exchanged, compared to its average volume of 398,640. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.19 billion, a P/E ratio of 157.90 and a beta of 0.94. The business has a 50-day moving average of $47.84 and a 200 day moving average of $47.62. SMART Global has a fifty-two week low of $23.60 and a fifty-two week high of $58.39.

SMART Global Company Profile

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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