SMART Global (NASDAQ:SGH) Releases Q3 2022 Earnings Guidance

SMART Global (NASDAQ:SGHGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.670-$0.830 for the period, compared to the Thomson Reuters consensus estimate of $0.710. The company issued revenue guidance of $435 million-$475 million, compared to the consensus revenue estimate of $454.87 million.

Several analysts recently issued reports on the company. Needham & Company LLC boosted their price target on SMART Global from $42.50 to $45.00 and gave the company a buy rating in a research note on Wednesday, April 6th. Rosenblatt Securities boosted their price target on SMART Global from $50.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, April 6th. Barclays dropped their price objective on SMART Global from $35.00 to $30.00 and set an overweight rating for the company in a report on Wednesday, April 6th. Zacks Investment Research cut SMART Global from a buy rating to a hold rating in a report on Tuesday, January 11th. Finally, TheStreet cut SMART Global from a b- rating to a c+ rating in a report on Tuesday, April 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $42.69.

SMART Global stock opened at $23.43 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.12 and a quick ratio of 1.49. SMART Global has a 52 week low of $20.30 and a 52 week high of $37.25. The firm has a market cap of $1.17 billion, a PE ratio of 36.33 and a beta of 1.14. The stock’s fifty day simple moving average is $25.67.

SMART Global (NASDAQ:SGHGet Rating) last posted its quarterly earnings results on Tuesday, April 5th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.15. SMART Global had a return on equity of 49.59% and a net margin of 1.97%. The company had revenue of $449.17 million during the quarter, compared to analysts’ expectations of $435.00 million. During the same quarter in the previous year, the firm earned $0.33 EPS. SMART Global’s revenue was up 47.7% on a year-over-year basis. As a group, research analysts anticipate that SMART Global will post 2.92 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of SGH. California State Teachers Retirement System increased its holdings in SMART Global by 2.0% in the 4th quarter. California State Teachers Retirement System now owns 27,956 shares of the company’s stock worth $1,985,000 after purchasing an additional 548 shares in the last quarter. Stifel Financial Corp grew its position in shares of SMART Global by 3.1% in the 4th quarter. Stifel Financial Corp now owns 19,204 shares of the company’s stock valued at $1,363,000 after buying an additional 574 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of SMART Global by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,239 shares of the company’s stock valued at $10,737,000 after buying an additional 2,112 shares during the last quarter. Legal & General Group Plc grew its position in shares of SMART Global by 4.5% in the 4th quarter. Legal & General Group Plc now owns 54,356 shares of the company’s stock valued at $3,859,000 after buying an additional 2,326 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of SMART Global in the 4th quarter valued at about $364,000. 50.64% of the stock is owned by institutional investors.

About SMART Global (Get Rating)

SMART Global Holdings, Inc designs and manufactures specialty solutions for the computing, memory, and LED markets in the United states, Brazil, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platforms Solutions, and LED Solutions segments. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products.

Featured Stories

Receive News & Ratings for SMART Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SMART Global and related companies with MarketBeat.com's FREE daily email newsletter.