SMART Global (NASDAQ:SGH) Releases Q4 2024 Earnings Guidance

SMART Global (NASDAQ:SGHGet Free Report) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.250-0.550 for the period, compared to the consensus EPS estimate of 0.390. The company issued revenue guidance of $300.0 million-$350.0 million, compared to the consensus revenue estimate of $322.2 million. SMART Global also updated its Q4 guidance to $0.25-0.55 EPS.

SMART Global Stock Down 3.1 %

SMART Global stock opened at $23.22 on Wednesday. The stock has a market cap of $1.21 billion, a P/E ratio of -6.31 and a beta of 1.69. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. SMART Global has a twelve month low of $12.66 and a twelve month high of $27.88. The company’s 50-day moving average price is $21.19 and its two-hundred day moving average price is $21.36.

SMART Global (NASDAQ:SGHGet Free Report) last announced its earnings results on Tuesday, July 9th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The firm had revenue of $300.58 million for the quarter, compared to analyst estimates of $300.00 million. SMART Global had a negative net margin of 15.79% and a positive return on equity of 11.82%. The business’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, analysts expect that SMART Global will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SGH. Rosenblatt Securities reaffirmed a buy rating and set a $35.00 price target on shares of SMART Global in a research note on Wednesday, July 3rd. Needham & Company LLC reaffirmed a buy rating and issued a $27.00 price target on shares of SMART Global in a research note on Tuesday, May 7th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $27.50 price target on shares of SMART Global in a research note on Wednesday, July 3rd.

Read Our Latest Research Report on SGH

Insider Activity

In other news, CEO Mark Adams bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average price of $18.79 per share, with a total value of $187,900.00. Following the acquisition, the chief executive officer now owns 29,640 shares of the company’s stock, valued at approximately $556,935.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joseph Gates Clark sold 2,529 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total value of $45,370.26. Following the completion of the sale, the insider now owns 92,386 shares of the company’s stock, valued at approximately $1,657,404.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Adams purchased 10,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost of $18.79 per share, with a total value of $187,900.00. Following the transaction, the chief executive officer now directly owns 29,640 shares in the company, valued at $556,935.60. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

About SMART Global

(Get Free Report)

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.

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