$0.75 EPS Expected for SMART Global Holdings, Inc. (NASDAQ:SGH) This Quarter

Brokerages expect that SMART Global Holdings, Inc. (NASDAQ:SGHGet Rating) will announce earnings of $0.75 per share for the current quarter, Zacks reports. Three analysts have made estimates for SMART Global’s earnings. SMART Global posted earnings of $0.70 per share in the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that SMART Global will report full-year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.52 to $3.55. For the next fiscal year, analysts forecast that the business will report earnings of $3.57 per share, with EPS estimates ranging from $3.44 to $3.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover SMART Global.

SMART Global (NASDAQ:SGHGet Rating) last issued its quarterly earnings data on Tuesday, April 5th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.10. SMART Global had a net margin of 1.97% and a return on equity of 49.59%. The firm had revenue of $449.17 million for the quarter, compared to analysts’ expectations of $435.00 million. During the same quarter in the prior year, the business earned $0.33 EPS. The business’s quarterly revenue was up 47.7% on a year-over-year basis.

A number of equities analysts have weighed in on the stock. Barclays dropped their price target on shares of SMART Global from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, April 6th. Needham & Company LLC upped their target price on shares of SMART Global from $42.50 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 6th. Rosenblatt Securities raised their price target on SMART Global from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 6th. Stifel Europe upped their price objective on SMART Global from $35.00 to $45.00 in a research note on Monday, January 3rd. Finally, TheStreet cut SMART Global from a “b-” rating to a “c+” rating in a research report on Tuesday, April 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $42.69.

Shares of NASDAQ:SGH opened at $22.95 on Tuesday. SMART Global has a twelve month low of $20.30 and a twelve month high of $37.25. The company has a market cap of $1.14 billion, a PE ratio of 35.58 and a beta of 1.14. The business has a 50 day simple moving average of $25.12. The company has a quick ratio of 1.49, a current ratio of 2.12 and a debt-to-equity ratio of 1.36.

In other SMART Global news, SVP Claude Demby sold 27,365 shares of the stock in a transaction dated Friday, April 22nd. The shares were sold at an average price of $23.93, for a total transaction of $654,844.45. Following the completion of the transaction, the senior vice president now owns 164,500 shares of the company’s stock, valued at approximately $3,936,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGH. FMR LLC bought a new position in shares of SMART Global during the 1st quarter valued at about $7,757,000. First Trust Advisors LP raised its position in shares of SMART Global by 3.6% during the 1st quarter. First Trust Advisors LP now owns 23,209 shares of the company’s stock valued at $446,000 after buying an additional 798 shares in the last quarter. Amalgamated Bank raised its position in shares of SMART Global by 44.5% during the 3rd quarter. Amalgamated Bank now owns 11,081 shares of the company’s stock valued at $493,000 after buying an additional 3,410 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of SMART Global by 1.0% during the 3rd quarter. Victory Capital Management Inc. now owns 23,991 shares of the company’s stock valued at $1,068,000 after buying an additional 244 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of SMART Global by 94.9% during the 3rd quarter. Van ECK Associates Corp now owns 13,319 shares of the company’s stock valued at $593,000 after buying an additional 6,486 shares in the last quarter. 52.61% of the stock is owned by institutional investors and hedge funds.

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.

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