SMART Global (NASDAQ:SGH) Updates Q4 Earnings Guidance

SMART Global (NASDAQ:SGHGet Free Report) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.25-0.55 for the period, compared to the consensus earnings per share estimate of $0.39. The company issued revenue guidance of $300-350 million, compared to the consensus revenue estimate of $325.00 million. SMART Global also updated its Q4 2024 guidance to 0.250-0.550 EPS.

SMART Global Trading Down 3.1 %

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

SMART Global (NASDAQ:SGHGet Free Report) last announced its earnings results on Tuesday, July 9th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.07. SMART Global had a positive return on equity of 11.82% and a negative net margin of 15.79%. The company had revenue of $300.58 million for the quarter, compared to the consensus estimate of $300.00 million. During the same period last year, the business posted $0.46 EPS. The company’s revenue was down 12.7% on a year-over-year basis. Equities analysts forecast that SMART Global will post 0.59 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on SGH shares. Stifel Nicolaus restated a buy rating and issued a $27.50 price target on shares of SMART Global in a research note on Wednesday, July 3rd. Needham & Company LLC restated a buy rating and issued a $27.00 price target on shares of SMART Global in a research note on Tuesday, May 7th. Finally, Rosenblatt Securities restated a buy rating and issued a $35.00 price target on shares of SMART Global in a research note on Wednesday, July 3rd.

Read Our Latest Stock Report on SGH

Insider Activity at SMART Global

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