Wall Street brokerages forecast that SMART Global Holdings (NASDAQ:SGH) will post sales of $331.83 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for SMART Global’s earnings, with the highest sales estimate coming in at $335.00 million and the lowest estimate coming in at $329.95 million. SMART Global posted sales of $206.97 million in the same quarter last year, which suggests a positive year-over-year growth rate of 60.3%. The business is scheduled to issue its next quarterly earnings results on Thursday, June 28th.

According to Zacks, analysts expect that SMART Global will report full year sales of $1.25 billion for the current year, with estimates ranging from $1.25 billion to $1.26 billion. For the next year, analysts anticipate that the company will post sales of $1.40 billion per share, with estimates ranging from $1.37 billion to $1.43 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover SMART Global.

SMART Global (NASDAQ:SGH) last released its earnings results on Thursday, March 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.40. The business had revenue of $314.00 million for the quarter, compared to analyst estimates of $290.06 million. SMART Global had a return on equity of 100.66% and a net margin of 5.50%. The business’s revenue was up 82.6% on a year-over-year basis.

A number of research analysts have recently issued reports on SGH shares. Needham & Company LLC boosted their target price on SMART Global from $46.00 to $75.00 and gave the company a “buy” rating in a report on Friday, March 23rd. Zacks Investment Research raised SMART Global from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a report on Wednesday, March 28th. Stifel Nicolaus upped their price objective on SMART Global from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, March 23rd. Deutsche Bank upped their price objective on SMART Global from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, March 19th. Finally, BidaskClub raised SMART Global from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 13th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $51.19.

SMART Global opened at $47.99 on Thursday, MarketBeat.com reports. The company has a market capitalization of $1.02 billion and a PE ratio of 23.52. The company has a current ratio of 1.62, a quick ratio of 1.08 and a debt-to-equity ratio of 0.97. SMART Global has a 12-month low of $45.89 and a 12-month high of $47.33.

In related news, VP Alan Marten sold 8,500 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $41.57, for a total transaction of $353,345.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Lake Sumeru (Offshore) Silver sold 2,000,000 shares of the company’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $45.20, for a total value of $90,400,000.00. The disclosure for this sale can be found here. Insiders have sold 2,104,856 shares of company stock worth $95,076,701 in the last ninety days. 6.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its holdings in SMART Global by 48.3% in the first quarter. California State Teachers Retirement System now owns 14,510 shares of the company’s stock valued at $723,000 after purchasing an additional 4,724 shares during the last quarter. Jane Street Group LLC grew its holdings in SMART Global by 464.9% in the first quarter. Jane Street Group LLC now owns 46,651 shares of the company’s stock valued at $2,325,000 after purchasing an additional 38,393 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in SMART Global by 43.5% in the first quarter. The Manufacturers Life Insurance Company now owns 7,475 shares of the company’s stock valued at $372,000 after purchasing an additional 2,265 shares during the last quarter. First Foundation Advisors acquired a new stake in SMART Global in the first quarter valued at $1,595,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in SMART Global in the first quarter valued at $1,296,000. 87.05% of the stock is currently owned by institutional investors.

SMART Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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