SMART Global (NASDAQ:SGH) Updates Q3 2021 Earnings Guidance


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SMART Global (NASDAQ:SGH) issued an update on its third quarter 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.000-1.200 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.900. The company issued revenue guidance of $400 million-$430 million, compared to the consensus revenue estimate of $314.01 million.

Shares of SMART Global stock traded down $1.40 on Tuesday, reaching $45.68. 333,403 shares of the company traded hands, compared to its average volume of 326,513. The company has a 50 day moving average of $49.87 and a 200 day moving average of $39.87. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.98 and a quick ratio of 1.46. SMART Global has a 52 week low of $23.54 and a 52 week high of $57.69. The firm has a market capitalization of $1.13 billion, a PE ratio of 26.01 and a beta of 0.97.

SMART Global (NASDAQ:SGH) last posted its quarterly earnings data on Monday, April 5th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. SMART Global had a return on equity of 16.65% and a net margin of 0.06%. The business had revenue of $304.00 million for the quarter, compared to the consensus estimate of $295.57 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. SMART Global’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts anticipate that SMART Global will post 2.61 earnings per share for the current year.

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of SMART Global from $48.00 to $60.00 and gave the company a buy rating in a report on Wednesday, April 7th. Needham & Company LLC increased their price objective on SMART Global from $56.00 to $65.00 and gave the stock a buy rating in a report on Tuesday, April 13th. TheStreet upgraded SMART Global from a c+ rating to a b- rating in a research note on Tuesday, April 6th. Rosenblatt Securities upped their price target on SMART Global from $45.00 to $55.00 and gave the company a buy rating in a research report on Tuesday, January 5th. Finally, Stifel Nicolaus raised their price objective on shares of SMART Global from $55.00 to $62.50 and gave the company a buy rating in a research report on Wednesday, April 7th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $61.08.

In related news, major shareholder Lake (Offshore) Aiv Gp Silver sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $50.50, for a total transaction of $101,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kiwan Kim sold 12,500 shares of SMART Global stock in a transaction on Monday, February 8th. The shares were sold at an average price of $42.91, for a total value of $536,375.00. Following the transaction, the executive vice president now owns 57,685 shares of the company’s stock, valued at approximately $2,475,263.35. The disclosure for this sale can be found here. Insiders sold a total of 2,032,365 shares of company stock worth $102,463,465 over the last ninety days. Insiders own 4.10% of the company’s stock.

SMART Global Company Profile

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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