Equities research analysts expect that Smart Global Holdings Inc (NASDAQ:SGH) will post earnings per share (EPS) of $1.33 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Smart Global’s earnings, with estimates ranging from $1.32 to $1.33. The business is scheduled to announce its next earnings results on Thursday, March 15th.
According to Zacks, analysts expect that Smart Global will report full year earnings of $4.98 per share for the current year, with EPS estimates ranging from $4.97 to $5.00. For the next financial year, analysts expect that the firm will report earnings of $5.77 per share, with EPS estimates ranging from $5.14 to $7.38. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for 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, topping the consensus estimate of $0.92 by $0.13. The company had revenue of $265.40 million for the quarter, compared to the consensus estimate of $255.03 million. The firm’s revenue for the quarter was up 66.6% compared to the same quarter last year.
Several equities analysts have recently commented on SGH shares. Deutsche Bank increased their price target on shares of Smart Global from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, November 16th. Stifel Nicolaus increased their price objective on shares of Smart Global from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 16th. Citigroup increased their price objective on shares of Smart Global to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. They noted that the move was a valuation call. Roth Capital increased their price objective on shares of Smart Global to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $46.00 price objective on shares of Smart Global in a research note on Thursday, January 18th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Smart Global currently has a consensus rating of “Buy” and a consensus price target of $39.19.
In other Smart Global news, CEO Iain Mackenzie sold 132,045 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $32.10, for a total value of $4,238,644.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Lake Sumeru (Offshore) Silver sold 3,051,471 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $32.10, for a total transaction of $97,952,219.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,353,807 shares of company stock worth $108,045,992. 6.90% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the business. Park West Asset Management LLC increased its stake in shares of Smart Global by 505.0% in the fourth quarter. Park West Asset Management LLC now owns 1,398,009 shares of the company’s stock valued at $47,113,000 after purchasing an additional 1,166,934 shares during the period. FMR LLC acquired a new stake in shares of Smart Global in the second quarter valued at approximately $13,569,000. Bogle Investment Management L P DE increased its stake in shares of Smart Global by 2,461.1% in the fourth quarter. Bogle Investment Management L P DE now owns 380,227 shares of the company’s stock valued at $12,813,000 after purchasing an additional 365,381 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Smart Global in the fourth quarter valued at approximately $12,319,000. Finally, Boston Partners acquired a new stake in shares of Smart Global in the third quarter valued at approximately $6,691,000. Institutional investors own 93.12% of the company’s stock.
Shares of Smart Global (NASDAQ:SGH) traded down $0.02 during mid-day trading on Monday, hitting $32.73. 347,000 shares of the stock traded hands, compared to its average volume of 403,391. 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 twelve month low of $11.50 and a twelve month high of $43.15. The company has a market capitalization of $711.91 and a PE ratio of 59.51.
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Smart Global Company Profile
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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