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MILPITAS, Calif.--(BUSINESS WIRE)---- $SGH #IR--SGH today announced that it will host its quarterly financial webcast and conf call for Q1FY2024 earnings on Tues, Jan 9 at 1:30 p.m. PT/4:30 p.m. ET.
Smart Global fell far short of revenue and earnings expectations with its latest quarter. The company cited "a challenging global economic environment" while selling an 81% interest in its Smart Brazil operations.
The company posts fiscal fourth-quarter net sales $316.7 million, well below analysts' estimates of $375 million.
In the world of semiconductor stocks, all the hype and excitement from 'smart' money as well as retail seems to be headed toward the big names, you know, the usual suspects: firms like Taiwan Semiconductor Manufacturing NYSE: TSM and Intel NASDAQ: INTC or even NVIDIA NASDAQ: NVDA.
SMART Global Holdings Inc (NASDAQ:SGH) shares toppled in Friday pre-market trading after the company reported a worse-than-expected decline in fourth-quarter revenue and earnings. The computing and memory card company said net sales for the quarter declined by 12.6% to $316.7 million, missing the $375 million consensus estimate of Wall Street analysts.
SMART Global Holdings, Inc. (NASDAQ:SGH ) Q4 2023 Earnings Conference Call October 12, 2023 4:30 PM ET Company Participants Suzanne Schmidt - IR Mark Adams - CEO Ken Rizvi - CFO Jack Pacheco - COO Conference Call Participants Kevin Cassidy - Rosenblatt Securities Sidney Ho - Deutsche Bank Brian Chin - Stifel Tom O'Malley - Barclay Quinn Bolton - Needham Operator Welcome to the SMART Global Holdings Fourth Quarter and Full Year Fiscal 2023 Earnings Call. My name is Victoria and I'll be your moderator today.
SMART Global Holdings, Inc. (SGH) came out with quarterly earnings of $0.35 per share, missing the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.80 per share a year ago.
SMART Global Holdings' (SGH) fourth-quarter fiscal 2023 results are likely to reflect strength in Intelligent Platform Solutions.
SGH has been the beneficiary of investor interest in AI plays, which has overshadowed some aspects that deserved more attention. The market is focused on growth due to AI, but it's possible SGH may not benefit as much from AI for several reasons. The charts suggest the stock is priming itself for a big move due to the convergence of trendlines, something the options market is prepping for.
Smart Global Holdings beat on both the top and bottom lines last night, but still lost money. Q4 guidance calls for a small profit, but also envisions the potential for a loss.