SMART Global Holdings, Inc. designs and manufactures specialty solutions for the computing, memory, and LED markets in the United states, Brazil, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platforms Solutions, and LED Solutions segments. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products. It also provides supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging. In addition, the company offers Penguin Computing solutions to customers in financial services, energy, government, social media, and education end markets; Penguin Edge solutions to government, telecommunications, health care, smart city, network edge, and industrial applications; and hardware and software products, including solutions based on the Open Compute Project. Further, it provides servers, software, integrated turn-key clusters, enterprise-grade storage, and networking in hardware or cloud-based solutions through Penguin-On-Demand; Open Compute Tundra Extreme Scale products; turn-key storage solutions; and rackmount servers and GPU accelerated computing platforms. Additionally, the company's LED Solutions offers application-optimized LEDs for lighting, video screens, and specialty lighting applications under the CreeLED brand. It sells its products directly to original equipment manufacturers, enterprise, government and other end customers through direct sales force, e-commerce, customer service representatives, on-site field application engineers, independent sales representatives, distributors, integrators, and resellers. The company was formerly known as Saleen Holdings, Inc. and changed its name to SMART Global Holdings, Inc. in August 2014. SMART Global Holdings, Inc. was founded in 1988 and is headquartered in Newark, California.
SMART Global Stock Performance
Shares of NASDAQ:SGH traded down $0.47 on Wednesday, hitting $19.99. 342,281 shares of the company were exchanged, compared to its average volume of 811,605. The company's 50 day moving average price is $19.17 and its two-hundred day moving average price is $23.01. The firm has a market capitalization of $999.34 million, a price-to-earnings ratio of 16.57 and a beta of 1.37. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.53 and a current ratio of 2.22. SMART Global has a one year low of $15.10 and a one year high of $37.25.
SMART Global (NASDAQ:SGH - Get Rating) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.75 by $0.12. SMART Global had a return on equity of 48.23% and a net margin of 3.64%. The firm had revenue of $462.54 million during the quarter, compared to analysts' expectations of $455.02 million. During the same quarter in the prior year, the firm posted $0.54 EPS. The company's revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts expect that SMART Global will post 2.77 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Barclays reduced their target price on SMART Global from $30.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, June 30th. Rosenblatt Securities decreased their price objective on shares of SMART Global from $60.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, June 30th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of SMART Global from $40.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, June 30th. Stifel Nicolaus decreased their price target on shares of SMART Global from $45.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, June 30th. Finally, Needham & Company LLC dropped their price objective on SMART Global from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, June 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SMART Global currently has an average rating of "Buy" and an average price target of $36.00.
Insiders Place Their Bets
In other SMART Global news, CEO Mark Adams bought 10,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average price of $18.10 per share, with a total value of $181,000.00. Following the completion of the purchase, the chief executive officer now directly owns 915,255 shares in the company, valued at approximately $16,566,115.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Ken Rizvi bought 4,250 shares of SMART Global stock in a transaction dated Tuesday, July 26th. The shares were bought at an average price of $17.85 per share, for a total transaction of $75,862.50. Following the purchase, the chief financial officer now owns 125,348 shares of the company's stock, valued at $2,237,461.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Adams bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, July 26th. The shares were purchased at an average price of $18.10 per share, with a total value of $181,000.00. Following the transaction, the chief executive officer now directly owns 915,255 shares in the company, valued at $16,566,115.50. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company's stock.
