Smart Global (NASDAQ:SGH) updated its fourth quarter 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.68. The company issued revenue guidance of $270-280 million, compared to the consensus revenue estimate of $298.08 million.Smart Global also updated its Q4 guidance to $0.55-0.65 EPS.
Several research analysts recently weighed in on the stock. Roth Capital assumed coverage on shares of AMC Entertainment in a report on Friday. They issued an outperform rating and a $18.00 target price for the company. Deutsche Bank upped their target price on shares of Welltower from $61.00 to $71.00 and gave the stock a hold rating in a report on Friday, March 29th. Zacks Investment Research raised shares of Golub Capital BDC from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Tuesday. BidaskClub downgraded shares of Ames National from a hold rating to a sell rating in a report on Wednesday. Finally, Barclays upped their target price on shares of Smart Global from $24.00 to $30.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $37.00.
Shares of SGH traded down $0.16 during midday trading on Friday, hitting $31.09. 324,199 shares of the company traded hands, compared to its average volume of 652,897. The firm has a 50 day simple moving average of $22.46. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.66 and a current ratio of 2.24. The stock has a market cap of $721.29 million, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. Smart Global has a 52 week low of $16.94 and a 52 week high of $35.10.
In other news, VP Bruce M. Goldberg sold 2,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $22.13, for a total transaction of $44,260.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Bruce M. Goldberg sold 2,381 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $18.39, for a total transaction of $43,786.59. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.
About Smart Global
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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