SMART Global (SGH) Scheduled to Post Quarterly Earnings on Tuesday

SMART Global (NASDAQ:SGH) will post its quarterly earnings results after the market closes on Tuesday, April 9th. Analysts expect SMART Global to post earnings of $0.25 per share for the quarter. SMART Global has set its Q2 guidance at $0.15-0.35 EPS and its Q2 2024 guidance at 0.150-0.350 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

SMART Global (NASDAQ:SGH) last released its earnings results on Tuesday, January 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. SMART Global had a negative net margin of 15.14% and a positive return on equity of 20.15%. The company had revenue of $274.25 million during the quarter, compared to the consensus estimate of $275.00 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue was down 30.0% compared to the same quarter last year. On average, analysts expect SMART Global to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

SMART Global Stock Up 1.0 %

SGH stock opened at $25.75 on Friday. SMART Global has a 12-month low of $12.66 and a 12-month high of $29.99. The company has a quick ratio of 2.11, a current ratio of 2.68 and a debt-to-equity ratio of 1.80. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -6.49 and a beta of 1.74. The company has a 50 day moving average of $22.81 and a two-hundred day moving average of $20.06.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC raised their price target on shares of SMART Global from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, January 10th.

Insider Activity

In other news, COO Jack A. Pacheco sold 7,500 shares of SMART Global stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $20.90, for a total transaction of $156,750.00. Following the sale, the chief operating officer now directly owns 224,062 shares in the company, valued at approximately $4,682,895.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Jack A. Pacheco sold 7,500 shares of SMART Global stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $20.90, for a total transaction of $156,750.00. Following the completion of the transaction, the chief operating officer now directly owns 224,062 shares of the company’s stock, valued at approximately $4,682,895.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Gates Clark sold 2,403 shares of SMART Global stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $22.36, for a total transaction of $53,731.08. Following the transaction, the insider now directly owns 95,895 shares of the company’s stock, valued at $2,144,212.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,928 shares of company stock worth $323,897. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SMART Global

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in shares of SMART Global by 1.1% during the second quarter. California State Teachers Retirement System now owns 59,263 shares of the company’s stock worth $1,719,000 after buying an additional 627 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in SMART Global by 65.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,621 shares of the company’s stock valued at $26,000 after purchasing an additional 641 shares during the period. Sei Investments Co. raised its holdings in SMART Global by 0.5% in the fourth quarter. Sei Investments Co. now owns 165,447 shares of the company’s stock worth $2,462,000 after purchasing an additional 771 shares during the period. Legal & General Group Plc raised its holdings in SMART Global by 0.6% in the fourth quarter. Legal & General Group Plc now owns 137,772 shares of the company’s stock worth $2,608,000 after purchasing an additional 796 shares during the period. Finally, Captrust Financial Advisors raised its holdings in SMART Global by 42.2% in the second quarter. Captrust Financial Advisors now owns 2,849 shares of the company’s stock worth $47,000 after purchasing an additional 846 shares during the period.

SMART Global Company Profile

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.