Smart Global Holdings Inc (SGH) Expected to Announce Earnings of $1.77 Per Share

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Analysts expect Smart Global Holdings Inc (NASDAQ:SGH) to announce earnings per share of $1.77 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Smart Global’s earnings. The highest EPS estimate is $1.78 and the lowest is $1.76. Smart Global posted earnings of $1.05 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 68.6%. The company is expected to issue its next quarterly earnings results on Thursday, December 20th.

On average, analysts expect that Smart Global will report full year earnings of $6.94 per share for the current financial year, with EPS estimates ranging from $6.80 to $7.15. For the next fiscal year, analysts anticipate that the business will post earnings of $7.45 per share, with EPS estimates ranging from $7.18 to $7.76. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Smart Global.

Smart Global (NASDAQ:SGH) last released its earnings results on Thursday, October 4th. The company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.06. The business had revenue of $373.97 million during the quarter, compared to analysts’ expectations of $368.51 million. Smart Global had a net margin of 9.27% and a return on equity of 100.35%. The company’s quarterly revenue was up 67.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share.

A number of research firms have recently commented on SGH. ValuEngine cut shares of Smart Global from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. BidaskClub cut shares of Smart Global from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Zacks Investment Research cut shares of Smart Global from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. Stifel Nicolaus boosted their target price on shares of Smart Global from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, June 22nd. Finally, Roth Capital cut their target price on shares of Smart Global from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, October 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Smart Global currently has a consensus rating of “Buy” and an average target price of $52.71.

SGH stock opened at $29.53 on Wednesday. The stock has a market cap of $714.73 million, a PE ratio of 4.92, a P/E/G ratio of 0.32 and a beta of -0.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.61 and a quick ratio of 1.13. Smart Global has a 52 week low of $26.26 and a 52 week high of $56.69.

In related news, insider Alan Marten sold 8,800 shares of the business’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $31.79, for a total transaction of $279,752.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Bruce M. Goldberg sold 4,131 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $31.91, for a total transaction of $131,820.21. The disclosure for this sale can be found here. Insiders have sold 160,390 shares of company stock worth $5,119,145 over the last 90 days. 6.90% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bowling Portfolio Management LLC acquired a new position in Smart Global in the 3rd quarter valued at about $1,604,000. Fox Run Management L.L.C. acquired a new position in Smart Global in the 3rd quarter valued at about $227,000. Northern Trust Corp boosted its holdings in Smart Global by 29.9% in the 2nd quarter. Northern Trust Corp now owns 132,082 shares of the company’s stock valued at $4,209,000 after purchasing an additional 30,435 shares during the last quarter. Millennium Management LLC boosted its holdings in Smart Global by 9.9% in the 2nd quarter. Millennium Management LLC now owns 44,705 shares of the company’s stock valued at $1,425,000 after purchasing an additional 4,029 shares during the last quarter. Finally, Hillcrest Asset Management LLC acquired a new position in Smart Global in the 2nd quarter valued at about $3,624,000. Hedge funds and other institutional investors own 83.52% of the company’s stock.

About Smart Global

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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