SMART Global (NASDAQ:SGH) announced its earnings results on Monday. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.70 by $0.08, MarketWatch Earnings reports. The firm had revenue of $291.70 million for the quarter, compared to the consensus estimate of $291.24 million. SMART Global had a negative net margin of 0.10% and a positive return on equity of 16.80%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS.
NASDAQ SGH traded up $1.19 on Wednesday, hitting $40.75. 6,887 shares of the stock were exchanged, compared to its average volume of 517,260. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 1.39. The business’s fifty day moving average is $33.54 and its 200 day moving average is $28.28. SMART Global has a 52 week low of $16.42 and a 52 week high of $40.82. The company has a market capitalization of $1.01 billion, a PE ratio of -565.14 and a beta of 0.87.
SGH has been the subject of a number of research analyst reports. Barclays upped their target price on shares of SMART Global from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 2nd. Needham & Company LLC upped their price objective on SMART Global from $39.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on SMART Global from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus upped their price target on SMART Global from $32.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, December 22nd. Finally, Zacks Investment Research cut shares of SMART Global from a “hold” rating to a “sell” rating in a research note on Wednesday, December 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $41.43.
In other SMART Global news, CFO Jack A. Pacheco sold 49,005 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $30.31, for a total value of $1,485,341.55. Following the sale, the chief financial officer now owns 86,272 shares in the company, valued at $2,614,904.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jack A. Pacheco sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 23rd. The shares were sold at an average price of $30.18, for a total value of $120,720.00. Following the completion of the sale, the chief financial officer now directly owns 72,672 shares of the company’s stock, valued at $2,193,240.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,000 shares of company stock valued at $1,816,122. Corporate insiders own 4.90% 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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