Brokerages predict that Smart Global Holdings Inc (NASDAQ:SGH) will report sales of $290.11 million for the current quarter, Zacks reports. Three analysts have made estimates for Smart Global’s earnings. The highest sales estimate is $290.34 million and the lowest is $289.98 million. The company is scheduled to announce its next earnings results on Thursday, March 15th.
On average, analysts expect that Smart Global will report full-year sales of $290.11 million for the current fiscal year, with estimates ranging from $1.06 billion to $1.16 billion. For the next financial year, analysts forecast that the firm will report sales of $1.28 billion per share, with estimates ranging from $1.17 billion to $1.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Smart Global.
Smart Global (NASDAQ:SGH) last issued its quarterly earnings results on Thursday, December 21st. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.13. The business had revenue of $265.40 million during the quarter, compared to analysts’ expectations of $255.03 million. Smart Global’s quarterly revenue was up 66.6% compared to the same quarter last year.
A number of research analysts have commented on the company. Needham & Company LLC increased their target price on Smart Global from $43.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Tuesday, December 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $47.00 target price (up previously from $40.00) on shares of Smart Global in a report on Friday, December 22nd. Citigroup increased their target price on Smart Global to $35.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. They noted that the move was a valuation call. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $28.00 target price (up previously from $25.00) on shares of Smart Global in a report on Monday, October 2nd. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.19.
Smart Global (SGH) opened at $36.68 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 1.50. Smart Global has a 1-year low of $11.50 and a 1-year high of $43.15.
In other news, VP Jack A. Pacheco sold 7,500 shares of Smart Global stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $31.06, for a total transaction of $232,950.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Bruce M. Goldberg sold 2,500 shares of Smart Global stock in a transaction on Friday, January 5th. The shares were sold at an average price of $35.76, for a total value of $89,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,319,457 shares of company stock worth $106,789,483. 6.90% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new stake in shares of Smart Global during the 2nd quarter worth $429,000. Citadel Advisors LLC bought a new stake in shares of Smart Global during the 3rd quarter worth $573,000. Rhumbline Advisers bought a new stake in shares of Smart Global during the 3rd quarter worth $387,000. American International Group Inc. bought a new stake in shares of Smart Global during the 3rd quarter worth $362,000. Finally, Empyrean Capital Partners LP bought a new stake in shares of Smart Global during the 2nd quarter worth $1,741,000. Institutional investors own 91.84% of the company’s stock.
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About Smart Global
Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.
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