SMART Global (NASDAQ:SGH) Updates Q3 Earnings Guidance

SMART Global (NASDAQ:SGH - Get Free Report) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.15-0.45 for the period, compared to the consensus estimate of $0.30. The company issued revenue guidance of $275-325 million, compared to the consensus revenue estimate of $300.00 million.

SMART Global Stock Performance

NASDAQ:SGH traded up $0.09 during mid-day trading on Tuesday, reaching $19.31. The company's stock had a trading volume of 719,575 shares, compared to its average volume of 1,066,210. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. The stock has a market cap of $1.01 billion, a P/E ratio of -5.25 and a beta of 1.80. The firm's fifty day moving average price is $21.80 and its two-hundred day moving average price is $19.84. SMART Global has a 12-month low of $12.66 and a 12-month high of $29.99.

SMART Global (NASDAQ:SGH - Get Free Report) last issued its earnings results on Tuesday, April 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $284.82 million during the quarter, compared to analysts' expectations of $285.18 million. SMART Global had a positive return on equity of 11.82% and a negative net margin of 15.79%. On average, equities analysts forecast that SMART Global will post 0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Needham & Company LLC restated a buy rating and set a $27.00 target price on shares of SMART Global in a research report on Tuesday, May 7th. Stifel Nicolaus boosted their price objective on shares of SMART Global from $26.00 to $27.50 and gave the company a buy rating in a research report on Wednesday, April 10th.

Insider Activity at SMART Global

In other SMART Global news, CEO Mark Adams bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average price of $18.79 per share, for a total transaction of $187,900.00. Following the completion of the transaction, the chief executive officer now owns 29,640 shares of the company's stock, valued at approximately $556,935.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joseph Gates Clark sold 2,529 shares of the company's stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total transaction of $45,370.26. Following the sale, the insider now directly owns 92,386 shares in the company, valued at approximately $1,657,404.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Adams purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, April 11th. The stock was bought at an average price of $18.79 per share, with a total value of $187,900.00. Following the transaction, the chief executive officer now owns 29,640 shares of the company's stock, valued at approximately $556,935.60. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

About SMART Global

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.