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 Price Performance
Shares of NASDAQ:SGH opened at $19.60 on Monday. The stock has a fifty day moving average price of $19.88. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $979.84 million, a PE ratio of 15.87 and a beta of 1.37. SMART Global has a 1 year low of $15.10 and a 1 year high of $37.25.
SMART Global (NASDAQ:SGH - Get Rating) last posted its earnings results on Wednesday, June 29th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. The company had revenue of $462.54 million during the quarter, compared to analysts' expectations of $455.02 million. SMART Global had a net margin of 3.64% and a return on equity of 48.23%. SMART Global's quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $0.54 earnings per share. On average, research analysts expect that SMART Global will post 2.77 EPS for the current year.
Analyst Ratings Changes
A number of brokerages recently weighed in on SGH. Needham & Company LLC lowered their price objective on shares of SMART Global from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, June 30th. Barclays lowered their price objective on shares of SMART Global from $30.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, June 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of SMART Global from $40.00 to $32.00 and set a "buy" rating on the stock in a research 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 on the stock in a research report on Thursday, June 30th. Finally, Rosenblatt Securities decreased their price target on shares of SMART Global from $60.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, June 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $36.00.
Insider Activity at SMART Global
In related news, CEO Mark Adams bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, July 26th. The stock was bought at an average cost of $18.10 per share, with a total value of $181,000.00. Following the completion of the purchase, the chief executive officer now owns 915,255 shares of the company's stock, valued at approximately $16,566,115.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SMART Global news, CEO Mark Adams acquired 10,000 shares of the company's stock in a transaction on Tuesday, July 26th. The stock was acquired at an average cost of $18.10 per share, with a total value of $181,000.00. Following the purchase, the chief executive officer now directly owns 915,255 shares of the company's stock, valued at approximately $16,566,115.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ken Rizvi bought 4,250 shares of the stock in a transaction dated Tuesday, July 26th. The stock was purchased at an average price of $17.85 per share, with a total value of $75,862.50. Following the acquisition, the chief financial officer now directly owns 125,348 shares in the company, valued at approximately $2,237,461.80. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.
