Analysts forecast that Smart Global Holdings Inc (NYSE:SGH) will post $233.13 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Smart Global Holdings’ earnings, with the highest sales estimate coming in at $235.00 million and the lowest estimate coming in at $232.50 million. The company is scheduled to report its next earnings results on Thursday, December 28th.
According to Zacks, analysts expect that Smart Global Holdings will report full year sales of $233.13 million for the current year, with estimates ranging from $905.70 million to $963.47 million. For the next year, analysts expect that the company will report sales of $1.02 billion per share, with estimates ranging from $1.02 billion to $1.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Smart Global Holdings.
Smart Global Holdings (NYSE:SGH) last issued its earnings results on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.15. The business had revenue of $223.00 million for the quarter, compared to the consensus estimate of $210.54 million. Smart Global Holdings had a negative net margin of 4.58% and a negative return on equity of 74.60%. The company’s revenue was up 52.5% on a year-over-year basis.
Several analysts recently commented on the stock. Zacks Investment Research cut shares of Smart Global Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Roth Capital reiterated a “buy” rating and issued a $30.00 price objective (up previously from $24.00) on shares of Smart Global Holdings in a research note on Friday, September 8th. Needham & Company LLC raised their price objective on shares of Smart Global Holdings from $33.00 to $40.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 11th. Citigroup Inc. raised their price objective on shares of Smart Global Holdings to $35.00 and gave the company a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price objective (up previously from $27.00) on shares of Smart Global Holdings in a research note on Thursday, September 28th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $34.31.
Institutional investors and hedge funds have recently made changes to their positions in the business. Symphony Asset Management LLC acquired a new position in Smart Global Holdings during the second quarter worth about $1,286,000. Empyrean Capital Partners LP acquired a new position in Smart Global Holdings during the second quarter worth about $1,741,000. Crosslink Capital Inc. acquired a new position in Smart Global Holdings during the second quarter worth about $2,358,000. Canada Pension Plan Investment Board acquired a new position in Smart Global Holdings during the second quarter worth about $10,231,000. Finally, Ameriprise Financial Inc. acquired a new position in Smart Global Holdings during the second quarter worth about $7,126,000.
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Shares of Smart Global Holdings (SGH) traded down $0.27 during midday trading on Wednesday, hitting $29.55. 95,440 shares of the company traded hands, compared to its average volume of 317,413. Smart Global Holdings has a 12-month low of $11.50 and a 12-month high of $38.24.
Smart Global Holdings Company Profile
Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.
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