SMART Global (NASDAQ:SGH – Get Rating) updated its earnings guidance for the second quarter on Tuesday. The company provided his EPS guidance of $0.45 to $0.75, compared to a consensus EPS estimate of $0.49. The company issued revenue guidance of $410 million to $460 million, compared to a consensus revenue estimate of $429.44 million. SMART Global also updated its Q2 2023 guidance to EPS of $0.45 to $0.75.
SMART global share price increase 1.6 %
Shares of NASDAQ SGH climbed $0.24 during Tuesday’s trading to reach $15.12. His 1,120,125 shares of the company traded, with an average trading volume of 544,793 shares. His 50-day moving average for this business is $15.82 and his 200-day moving average is $16.94. SMART Global has a 52-week low of $12.04 and a 52-week high of $37.00. The company has a market capitalization of $744.57 million, a price/earnings ratio of 12.14 and a beta of 1.32. The company has a debt to equity ratio of 1.56, a quick ratio of 1.61 and a current ratio of 2.23.
SMART Global (NASDAQ:SGH – Get Rating) last released its quarterly earnings data on Tuesday, January 3rd. The company posted his earnings per share of $0.79 for the quarter, beating consensus expectations of $0.59 by $0.20. SMART Global’s net profit margin was 3.66% and return on equity was 42.03%. The company’s revenue for the quarter was $465.48 million, compared with analyst estimates of $445.86 million. During the same quarter last year, the business earned him $2.16 per share. The business’ quarterly revenues were down 1.0% compared to the same quarter last year. An equity research analyst expects SMART Global to post earnings per share of 1.5 for the current financial year.
Analyst upgrades and downgrades
SGH has been the topic of many analyst reports. Needham & Company LLC lowered its price target on SMART Global stock from $30.00 to $23.00 in a report on Tuesday, October 25th. TheStreet downgraded SMART Global’s stock from a b- rating to a c+ rating in his Monday, Sept. 26 report. Rosenblatt Securities lowered its target price on SMART Global stock from $45.00 to $38.00, setting a buy rating on the stock in its Wednesday, October 5 report. Deutsche Bank Aktiengesellschaft lowered its price target on SMART Global shares from $28.00 to $24.00, setting a buy rating on the stock in its Wednesday October 5 report. Finally, Barclays lowered its price target on SMART Global shares from $22.00 to $15.00, setting an overweight valuation on the stock in its report on Monday 24 October. Data from MarketBeat.com shows SMART Global’s current average rating is Buy with a consensus target price of $29.50.
Insider trading with SMART Global
In other SMART Global news, SVP Thierry Pellegrino sold 8,426 shares in a transaction on Tuesday, November 15th. The shares sold for an average of $17.23 for a total of $145,179.98. Following the closing of the sale, the Senior Vice President now owns his 85,729 shares of the company, valued at approximately $1,477,110.67. The transaction was disclosed in documents filed with the SEC and available at this link. A company insider owns his 3.70% of the company’s shares.
institution inflow and outflow
Recently, many institutional investors and hedge funds have changed their holdings of SGH. Vanguard Group Inc. increased his SMART Global holdings by 5.2% in the third quarter. Vanguard Group Inc. now owns 4,540,412 shares of the company worth $72,056,000 after he purchased an additional 222,867 shares during this period. State Street Corp increased his SMART Global holdings by 1.9% in the third quarter. State Street Corp now owns 2,822,430 shares of the company worth $44,792,000 after he purchased an additional 52,397 shares during this period. Clearbridge Investments LLC increased his SMART Global holdings by 323.3% in the first quarter. Clearbridge Investments LLC now owns 1,563,323 shares worth $40,381,000 after purchasing an additional 1,194,012 shares during this period. Dimensional Fund Advisors LP increased its SMART Global holdings by 93.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,369,486 shares worth $35,375,000 after purchasing an additional 662,841 shares during this period. Finally, Manufacturers’ Life Insurance Company increased his SMART Global holdings by 97.9% in the first quarter. Manufacturers’ Life Insurance Company now owns 1,062,370 shares of the company, valued at $27,441,000, after purchasing an additional 525,616 shares during this period.
SMART Global Company Profile
SMART Global Holdings, Inc designs and manufactures specialized solutions for the US, Brazil, China, Europe and international computing, memory and LED markets. He operates in three segments: Memory Solutions, Intelligent Platform Solutions, and LED Solutions. The company offers dynamic random access memory modules for desktops, notebooks, servers and smartphones. Embedded and removable flash memory products. and flash component products.
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