Zacks: Analysts Expect Smart Global Holdings Inc (SGH) Will Post Earnings of $1.33 Per Share

Brokerages expect that Smart Global Holdings Inc (NASDAQ:SGH) will report $1.33 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Smart Global’s earnings. The highest EPS estimate is $1.33 and the lowest is $1.32. The business is scheduled to report its next earnings report on Thursday, March 15th.

On average, analysts expect that Smart Global will report full year earnings of $4.98 per share for the current year, with EPS estimates ranging from $4.97 to $5.00. For the next fiscal year, analysts anticipate that the business will report earnings of $5.77 per share, with EPS estimates ranging from $5.14 to $7.38. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Smart Global.

Smart Global (NASDAQ:SGH) last issued its earnings results on Thursday, December 21st. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.13. The business had revenue of $265.40 million for the quarter, compared to analyst estimates of $255.03 million. The company’s quarterly revenue was up 66.6% on a year-over-year basis.

Several analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Smart Global to $35.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. They noted that the move was a valuation call. Stifel Nicolaus lifted their target price on shares of Smart Global from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Deutsche Bank lifted their target price on shares of Smart Global from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Needham & Company LLC reiterated a “buy” rating and set a $46.00 target price on shares of Smart Global in a research report on Thursday, January 18th. Finally, Roth Capital lifted their target price on shares of Smart Global to $50.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $39.19.

In related news, CFO Jack A. Pacheco sold 7,500 shares of Smart Global stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.49, for a total transaction of $266,175.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Iain Mackenzie sold 132,045 shares of Smart Global stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $32.10, for a total transaction of $4,238,644.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,353,807 shares of company stock valued at $108,045,992 over the last three months. 6.90% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Park West Asset Management LLC lifted its holdings in Smart Global by 505.0% during the 4th quarter. Park West Asset Management LLC now owns 1,398,009 shares of the company’s stock valued at $47,113,000 after purchasing an additional 1,166,934 shares during the last quarter. FMR LLC bought a new position in shares of Smart Global in the second quarter worth about $13,569,000. Bogle Investment Management L P DE raised its stake in shares of Smart Global by 2,461.1% in the fourth quarter. Bogle Investment Management L P DE now owns 380,227 shares of the company’s stock worth $12,813,000 after acquiring an additional 365,381 shares during the last quarter. Systematic Financial Management LP bought a new position in shares of Smart Global in the fourth quarter worth about $12,319,000. Finally, Boston Partners bought a new position in shares of Smart Global in the third quarter worth about $6,691,000. 93.12% of the stock is owned by hedge funds and other institutional investors.

Shares of Smart Global (SGH) traded down $0.02 during trading on Monday, hitting $32.73. 347,000 shares of the stock traded hands, compared to its average volume of 403,391. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.97 and a current ratio of 1.43. Smart Global has a 1-year low of $11.50 and a 1-year high of $43.15. The firm has a market cap of $711.91 and a price-to-earnings ratio of 59.51.

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Smart Global 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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