SMART Global (NASDAQ:SGH) Releases Q4 Earnings Guidance

SMART Global (NASDAQ:SGH) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.25-0.55 for the period, compared to the consensus earnings per share estimate of $0.39. The company issued revenue guidance of $300-350 million, compared to the consensus revenue estimate of $325.00 million.

SMART Global Stock Down 3.1 %

NASDAQ SGH traded down $0.74 during trading hours on Tuesday, hitting $23.22. The company had a trading volume of 1,727,305 shares, compared to its average volume of 1,022,710. SMART Global has a 52 week low of $12.66 and a 52 week high of $27.88. The firm has a 50 day simple moving average of $21.09 and a 200 day simple moving average of $21.33. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80.

SMART Global (NASDAQ:SGH) last released its quarterly earnings results on Tuesday, April 9th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The business had revenue of $284.82 million during the quarter, compared to analysts’ expectations of $285.18 million. As a group, sell-side analysts forecast that SMART Global will post 0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Rosenblatt Securities restated a buy rating and set a $35.00 target price on shares of SMART Global in a report on Wednesday, July 3rd. Stifel Nicolaus restated a buy rating and set a $27.50 target price on shares of SMART Global in a report on Wednesday, July 3rd. Finally, Needham & Company LLC restated a buy rating and issued a $27.00 price objective on shares of SMART Global in a report on Tuesday, May 7th.

Insider Buying and Selling

In related news, insider Joseph Gates Clark sold 2,529 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total transaction of $45,370.26. Following the completion of the transaction, the insider now directly owns 92,386 shares of the company’s stock, valued at $1,657,404.84. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Mark Adams acquired 10,000 shares of SMART Global stock in a transaction on Thursday, April 11th. The shares were bought at an average cost of $18.79 per share, for a total transaction of $187,900.00. Following the acquisition, the chief executive officer now directly owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Gates Clark sold 2,529 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the transaction, the insider now owns 92,386 shares in the company, valued at $1,657,404.84. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

About SMART Global

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.