SMART Global (NASDAQ:SGH) released its earnings results on Monday. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.08, MarketWatch Earnings reports. SMART Global had a negative net margin of 0.10% and a positive return on equity of 16.80%. The company had revenue of $291.70 million during the quarter, compared to analysts’ expectations of $291.24 million. During the same quarter last year, the business earned $0.55 EPS. The business’s revenue was up 7.2% on a year-over-year basis.
SGH traded up $1.16 during trading on Wednesday, hitting $40.72. The stock had a trading volume of 12,204 shares, compared to its average volume of 517,260. The company has a 50 day moving average price of $33.54 and a 200-day moving average price of $28.28. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -565.14 and a beta of 0.87. SMART Global has a one year low of $16.42 and a one year high of $40.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 1.39.
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of SMART Global from a “hold” rating to a “sell” rating in a research report on Wednesday, December 23rd. Needham & Company LLC boosted their target price on shares of SMART Global from $39.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday. ValuEngine lowered shares of SMART Global from a “hold” rating to a “sell” rating in a research report on Thursday, December 10th. Barclays upped their price objective on shares of SMART Global from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 2nd. Finally, Stifel Nicolaus upped their price target on shares of SMART Global from $32.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, December 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.43.
In related news, CFO Jack A. Pacheco sold 3,495 shares of the company’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $30.00, for a total transaction of $104,850.00. Following the completion of the sale, the chief financial officer now directly owns 86,272 shares in the company, valued at approximately $2,588,160. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Adams bought 9,820 shares of the stock in a transaction on Friday, October 23rd. The stock was purchased at an average cost of $25.99 per share, with a total value of $255,221.80. Following the acquisition, the chief executive officer now owns 475,000 shares in the company, valued at $12,345,250. The disclosure for this purchase can be found here. Insiders sold a total of 60,000 shares of company stock valued at $1,816,122 over the last 90 days. 4.90% of the stock is currently owned by corporate insiders.
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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