SMART Global (SGH) Scheduled to Post Earnings on Tuesday

SMART Global (NASDAQ:SGH - Get Free Report) is scheduled to announce its earnings results after the market closes on Tuesday, April 9th. Analysts expect the company to announce earnings of $0.25 per share for the quarter. SMART Global has set its Q2 guidance at $0.15-0.35 EPS and its Q2 2024 guidance at 0.150-0.350 EPS.Investors that are interested in participating in the company's conference call can do so using this link.

SMART Global (NASDAQ:SGH - Get Free Report) last posted its quarterly earnings data on Tuesday, January 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.08. SMART Global had a positive return on equity of 20.15% and a negative net margin of 15.14%. The business had revenue of $274.25 million during the quarter, compared to analyst estimates of $275.00 million. During the same period last year, the company earned $0.60 EPS. The company's revenue for the quarter was down 30.0% on a year-over-year basis. On average, analysts expect SMART Global to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

SMART Global Trading Down 0.8 %

Shares of SGH stock traded down $0.22 on Tuesday, reaching $26.16. 720,668 shares of the company's stock were exchanged, compared to its average volume of 1,019,831. SMART Global has a 52 week low of $12.66 and a 52 week high of $29.99. The company has a current ratio of 2.68, a quick ratio of 2.11 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $1.36 billion, a PE ratio of -6.59 and a beta of 1.74. The company's fifty day simple moving average is $22.57 and its 200 day simple moving average is $19.96.

Insider Buying and Selling

In other SMART Global news, COO Jack A. Pacheco sold 2,500 shares of the firm's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $22.52, for a total transaction of $56,300.00. Following the transaction, the chief operating officer now directly owns 220,007 shares in the company, valued at approximately $4,954,557.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other SMART Global news, Director Penny Herscher sold 2,525 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $22.62, for a total transaction of $57,115.50. Following the transaction, the director now directly owns 12,713 shares in the company, valued at approximately $287,568.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jack A. Pacheco sold 2,500 shares of SMART Global stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $22.52, for a total value of $56,300.00. Following the completion of the transaction, the chief operating officer now owns 220,007 shares in the company, valued at $4,954,557.64. The disclosure for this sale can be found here. In the last three months, insiders sold 14,928 shares of company stock valued at $323,897. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its holdings in shares of SMART Global by 65.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,621 shares of the company's stock valued at $26,000 after acquiring an additional 641 shares during the period. Captrust Financial Advisors increased its holdings in shares of SMART Global by 162.9% in the 1st quarter. Captrust Financial Advisors now owns 2,003 shares of the company's stock valued at $52,000 after acquiring an additional 1,241 shares during the period. Point72 Middle East FZE purchased a new position in shares of SMART Global in the 4th quarter valued at $32,000. Tower Research Capital LLC TRC increased its holdings in shares of SMART Global by 93.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,434 shares of the company's stock valued at $55,000 after acquiring an additional 1,662 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of SMART Global in the 4th quarter valued at $66,000.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC raised their price target on SMART Global from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, January 10th.

SMART Global Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.