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

SMART Global (NASDAQ:SGH) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.250-0.550 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of SMART Global stock opened at $29.32 on Thursday. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -7.97 and a beta of 1.69. The firm’s 50-day moving average price is $21.42 and its two-hundred day moving average price is $21.42. The company has a current ratio of 3.30, a quick ratio of 2.66 and a debt-to-equity ratio of 1.80. SMART Global has a 1-year low of $12.66 and a 1-year high of $29.35.

SMART Global (NASDAQ:SGH) last released its quarterly earnings results on Tuesday, July 9th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. SMART Global had a positive return on equity of 11.82% and a negative net margin of 15.79%. The business had revenue of $300.58 million for the quarter, compared to analyst estimates of $300.00 million. During the same period in the prior year, the company earned $0.46 EPS. SMART Global’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, equities analysts predict that SMART Global will post 0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SGH has been the subject of several research reports. Needham & Company LLC raised their price objective on shares of SMART Global from $27.00 to $30.00 and gave the company a buy rating in a research report on Wednesday. Stifel Nicolaus reiterated a buy rating and set a $27.50 target price on shares of SMART Global in a research report on Wednesday, July 3rd. Finally, Rosenblatt Securities reissued a buy rating and set a $35.00 price objective on shares of SMART Global in a research note on Wednesday, July 3rd.

Insider Activity

In related news, insider Joseph Gates Clark sold 2,529 shares of SMART Global stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $17.94, for a total value of $45,370.26. Following the sale, the insider now owns 92,386 shares of the company’s stock, valued at approximately $1,657,404.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.