Analysts predict that Smart Global Holdings Inc (NASDAQ:SGH) will report $285.07 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Smart Global’s earnings, with the highest sales estimate coming in at $285.21 million and the lowest estimate coming in at $285.00 million. Smart Global posted sales of $373.97 million during the same quarter last year, which would indicate a negative year over year growth rate of 23.8%. The business is expected to issue its next quarterly earnings results on Thursday, October 3rd.
According to Zacks, analysts expect that Smart Global will report full year sales of $1.22 billion for the current year. For the next fiscal year, analysts anticipate that the business will post sales of $1.29 billion, with estimates ranging from $1.26 billion to $1.32 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Smart Global.
Smart Global (NASDAQ:SGH) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). Smart Global had a net margin of 5.77% and a return on equity of 40.99%. The business had revenue of $235.70 million during the quarter, compared to the consensus estimate of $264.98 million. During the same period last year, the firm earned $1.84 EPS. The business’s revenue for the quarter was down 29.7% on a year-over-year basis.
In related news, VP Bruce M. Goldberg sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $27.71, for a total transaction of $60,962.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen C. Dow acquired 17,059 shares of Smart Global stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average cost of $31.49 per share, with a total value of $537,187.91. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 11,551 shares of company stock valued at $357,998. 4.20% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Yorktown Management & Research Co Inc grew its stake in Smart Global by 7.6% in the 1st quarter. Yorktown Management & Research Co Inc now owns 18,050 shares of the company’s stock worth $347,000 after buying an additional 1,276 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Smart Global by 1,522.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 58,740 shares of the company’s stock worth $1,350,000 after buying an additional 55,120 shares in the last quarter. NumerixS Investment Technologies Inc grew its stake in Smart Global by 268.6% in the 1st quarter. NumerixS Investment Technologies Inc now owns 7,372 shares of the company’s stock worth $176,000 after buying an additional 5,372 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Smart Global in the 2nd quarter worth approximately $206,000. Finally, FNY Investment Advisers LLC purchased a new position in Smart Global in the 1st quarter worth approximately $288,000. 96.09% of the stock is owned by institutional investors.
Shares of NASDAQ SGH traded up $0.08 during midday trading on Thursday, hitting $27.93. The company’s stock had a trading volume of 92,400 shares, compared to its average volume of 519,955. The stock has a fifty day moving average price of $29.27 and a 200 day moving average price of $24.23. Smart Global has a one year low of $16.94 and a one year high of $35.10. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $647.89 million, a price-to-earnings ratio of 4.66, a P/E/G ratio of 0.64 and a beta of 1.24.
Smart Global Company Profile
SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.
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