Smart Global Holdings (SGH) Earning Somewhat Favorable News Coverage, Analysis Finds

Press coverage about Smart Global Holdings (NYSE:SGH) has trended somewhat positive this week, according to Accern Sentiment. The research firm identifies negative and positive news coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Smart Global Holdings earned a news sentiment score of 0.11 on Accern’s scale. Accern also gave news articles about the company an impact score of 45.9350639922199 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:

SGH has been the subject of a number of research analyst reports. Deutsche Bank AG initiated coverage on shares of Smart Global Holdings in a research report on Monday, June 19th. They set a “buy” rating and a $18.00 price objective for the company. Zacks Investment Research lowered shares of Smart Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Jefferies Group LLC initiated coverage on shares of Smart Global Holdings in a research report on Monday, June 19th. They set a “buy” rating and a $21.00 price objective for the company. Roth Capital reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $24.00) on shares of Smart Global Holdings in a research report on Friday. Finally, Needham & Company LLC initiated coverage on shares of Smart Global Holdings in a research report on Monday, June 19th. They set a “strong-buy” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $22.83.

Smart Global Holdings (NYSE SGH) traded up 1.66% during mid-day trading on Tuesday, reaching $23.25. 131,434 shares of the company were exchanged. The company’s 50 day moving average price is $18.77 and its 200-day moving average price is $16.83. Smart Global Holdings has a 12-month low of $11.50 and a 12-month high of $24.01. The stock has a market capitalization of $503.99 million and a price-to-earnings ratio of 332.14.

Smart Global Holdings (NYSE:SGH) last issued its quarterly earnings data on Thursday, June 22nd. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). Smart Global Holdings had a return on equity of 132.75% and a net margin of 3.84%. The business had revenue of $206.97 million during the quarter, compared to analyst estimates of $202.87 million. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. On average, equities research analysts forecast that Smart Global Holdings will post $1.63 earnings per share for the current fiscal year.

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About Smart Global Holdings

Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.

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