SMART Global (NASDAQ:SGH) Issues Q4 2024 Earnings Guidance

SMART Global (NASDAQ:SGH) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.250-0.550 for the period, compared to the consensus EPS estimate of 0.390. The company issued revenue guidance of $300.0 million-$350.0 million, compared to the consensus revenue estimate of $322.2 million. SMART Global also updated its Q4 guidance to $0.25-0.55 EPS.

SMART Global Stock Down 2.7 %

SGH stock opened at $28.54 on Friday. SMART Global has a 52 week low of $12.66 and a 52 week high of $29.58. The business has a 50-day simple moving average of $21.62 and a 200 day simple moving average of $21.47. The company has a quick ratio of 2.66, a current ratio of 3.30 and a debt-to-equity ratio of 1.80. The company has a market cap of $1.51 billion, a PE ratio of -9.27 and a beta of 1.69.

SMART Global (NASDAQ:SGH) last issued its earnings results on Tuesday, July 9th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. SMART Global had a negative net margin of 14.35% and a positive return on equity of 8.86%. The company had revenue of $300.58 million during the quarter, compared to analysts’ expectations of $300.00 million. During the same period in the previous year, the company earned $0.46 EPS. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. Sell-side analysts anticipate that SMART Global will post 0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Rosenblatt Securities reiterated a buy rating and set a $35.00 target price on shares of SMART Global in a research report on Wednesday, July 3rd. Barclays boosted their price objective on shares of SMART Global from $24.00 to $27.00 and gave the stock an overweight rating in a research note on Wednesday. Needham & Company LLC raised their target price on SMART Global from $27.00 to $30.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $27.50 target price on shares of SMART Global in a report on Wednesday, July 3rd. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $29.88.

Insider Transactions at SMART Global

In other SMART Global news, insider Joseph Gates Clark sold 2,529 shares of SMART Global stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $17.94, for a total transaction of $45,370.26. Following the transaction, the insider now owns 92,386 shares of the company’s stock, valued at approximately $1,657,404.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.30% of the company’s stock.

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.