Smart Global (SGH) Updates Q2 Earnings Guidance

Smart Global (NASDAQ:SGH) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $1.30-1.36 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.91. The company issued revenue guidance of $280-300 million, compared to the consensus revenue estimate of $253.65 million.

A number of research firms have recently weighed in on SGH. Stifel Nicolaus increased their price objective on shares of Smart Global from $40.00 to $47.00 and gave the stock a buy rating in a research note on Friday. Citigroup increased their price target on shares of 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. Barclays increased their price target on shares of Smart Global from $19.00 to $28.00 and gave the stock a positive rating in a report on Friday, September 29th. Jefferies Group reissued a buy rating and set a $28.50 price target (up from $23.00) on shares of Smart Global in a report on Monday, October 2nd. Finally, Deutsche Bank reissued a buy rating and set a $28.00 price target (up from $25.00) on shares of Smart Global in a report on Monday, October 2nd. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $36.94.

Smart Global (NASDAQ:SGH) opened at $31.11 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.45 and a quick ratio of 0.92. Smart Global has a twelve month low of $11.50 and a twelve month high of $43.15.

Smart Global (NASDAQ:SGH) last posted its quarterly earnings data on Thursday, December 21st. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.13. The company had revenue of $265.40 million for the quarter, compared to analysts’ expectations of $255.03 million. The firm’s revenue for the quarter was up 66.6% compared to the same quarter last year. equities research analysts forecast that Smart Global will post 3.59 earnings per share for the current year.

In other Smart Global news, Director Sandeep Nayyar sold 7,148 shares of Smart Global stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $35.20, for a total transaction of $251,609.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jack A. Pacheco sold 7,500 shares of Smart Global stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $31.06, for a total transaction of $232,950.00. The disclosure for this sale can be found here. Insiders sold 3,264,122 shares of company stock valued at $104,818,100 over the last quarter.

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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.

Earnings History and Estimates for Smart Global (NASDAQ:SGH)

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