SMART Global Holdings, Inc. Expected to Post Q1 2018 Earnings of $0.86 Per Share (SGH)

SMART Global Holdings, Inc. (NASDAQ:SGH) – Jefferies Group increased their Q1 2018 earnings per share estimates for SMART Global Holdings in a report released on Wednesday. Jefferies Group analyst M. Lipacis now forecasts that the company will post earnings of $0.86 per share for the quarter, up from their prior forecast of $0.75. Jefferies Group currently has a “Buy” rating and a $28.50 target price on the stock. Jefferies Group also issued estimates for SMART Global Holdings’ Q2 2018 earnings at $0.88 EPS and Q3 2018 earnings at $0.88 EPS.

SMART Global Holdings (NASDAQ:SGH) last announced its quarterly earnings data on Thursday, September 28th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.15. The company had revenue of $223.00 million for the quarter, compared to analysts’ expectations of $210.54 million. The company’s quarterly revenue was up 52.5% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This story was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://sportsperspectives.com/2017/11/18/smart-global-holdings-inc-expected-to-post-q1-2018-earnings-of-0-86-per-share-sgh.html.

Several other research analysts have also commented on SGH. Citigroup Inc. raised their price target on shares of SMART Global Holdings to $35.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. They noted that the move was a valuation call. Needham & Company LLC reiterated a “strong-buy” rating and set a $43.00 price objective (up previously from $40.00) on shares of SMART Global Holdings in a research note on Thursday. Stifel Nicolaus lifted their price objective on shares of SMART Global Holdings from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank AG lifted their price objective on shares of SMART Global Holdings from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Barclays PLC lifted their price objective on shares of SMART Global Holdings from $19.00 to $28.00 and gave the company a “positive” rating in a research note on Friday, September 29th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $36.06.

SMART Global Holdings (NASDAQ SGH) opened at $36.41 on Friday. SMART Global Holdings has a 1-year low of $11.50 and a 1-year high of $38.24. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 1.87.

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in SMART Global Holdings in the third quarter worth $103,000. Legal & General Group Plc acquired a new position in shares of SMART Global Holdings during the third quarter valued at $133,000. Strs Ohio acquired a new position in shares of SMART Global Holdings during the third quarter valued at $158,000. Macquarie Group Ltd. acquired a new position in shares of SMART Global Holdings during the third quarter valued at $166,000. Finally, Nationwide Fund Advisors acquired a new position in shares of SMART Global Holdings during the third quarter valued at $268,000. 28.74% of the stock is owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for SMART Global Holdings (NASDAQ:SGH)

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