SMART Global Holdings, Inc. (NASDAQ:SGH) Expected to Announce Quarterly Sales of $460.00 Million

Brokerages predict that SMART Global Holdings, Inc. (NASDAQ:SGH) will report sales of $460.00 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SMART Global’s earnings. SMART Global reported sales of $291.70 million in the same quarter last year, which indicates a positive year-over-year growth rate of 57.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, January 4th.

On average, analysts expect that SMART Global will report full year sales of $1.82 billion for the current year, with estimates ranging from $1.81 billion to $1.83 billion. For the next year, analysts forecast that the firm will post sales of $1.92 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow SMART Global.

SMART Global (NASDAQ:SGH) last issued its quarterly earnings data on Tuesday, October 12th. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.56. SMART Global had a net margin of 1.42% and a return on equity of 35.17%. The business had revenue of $467.71 million during the quarter, compared to analysts’ expectations of $461.00 million. During the same period last year, the company posted $0.69 EPS. The business’s revenue was up 57.5% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. TheStreet raised shares of SMART Global from a “c” rating to a “b-” rating in a research report on Tuesday, October 12th. Needham & Company LLC boosted their price objective on shares of SMART Global from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, October 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of SMART Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, October 13th. Finally, Zacks Investment Research upgraded shares of SMART Global from a “hold” rating to a “strong-buy” rating and set a $59.00 price target for the company in a report on Wednesday, October 20th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $66.71.

In other SMART Global news, Director Ajay Shah sold 43,183 shares of the company’s stock in a transaction on Tuesday, October 26th. The shares were sold at an average price of $51.03, for a total transaction of $2,203,628.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mukesh Patel sold 26,959 shares of the stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $51.34, for a total transaction of $1,384,075.06. The disclosure for this sale can be found here. Insiders have sold 160,406 shares of company stock worth $8,352,243 over the last three months. 4.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC acquired a new position in SMART Global in the 1st quarter valued at about $7,757,000. First Trust Advisors LP increased its stake in shares of SMART Global by 3.6% during the 1st quarter. First Trust Advisors LP now owns 23,209 shares of the company’s stock valued at $446,000 after acquiring an additional 798 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of SMART Global by 1.3% during 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. Captrust Financial Advisors increased its stake in shares of SMART Global by 2,724.0% during the 1st quarter. Captrust Financial Advisors now owns 706 shares of the company’s stock valued at $32,000 after acquiring an additional 681 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of SMART Global by 1.6% during 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.

SGH stock opened at $60.34 on Monday. SMART Global has a 12 month low of $30.40 and a 12 month high of $60.75. The company has a current ratio of 1.63, a quick ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average price of $51.96 and a 200 day moving average price of $48.76. The stock has a market cap of $1.47 billion, a PE ratio of 76.38 and a beta of 1.02.

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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