SGH Stock Recent News

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.

SMART Global Holdings NASDAQ: SGH is part of the semiconductor family, a sector that has taken on the spotlight during the past few weeks; the attention to the space was drawn after NVIDIA NASDAQ: NVDA reported optimistic outlooks and bullish results around its artificial intelligence departments.

SMART Global Holdings, Inc. (NASDAQ:SGH ) Q3 2023 Earnings Conference Call June 29, 2023 4:30 PM ET Company Participants Suzanne Schmidt - Investor Relations Mark Adams - Chief Executive Officer Ken Rizvi - Chief Financial Officer Conference Call Participants Kevin Cassidy - Rosenblatt Securities Tom O'Malley - Barclays Sidney Ho - Deutsche Bank Raji Gill - Needham and Co Mark Lipacis - Jefferies Brian Chin - Stifel Operator Good afternoon. Thank you for attending today's SGH Third Quarter Fiscal 2023 Earnings Call.

SMART Global Holdings, Inc. (SGH) came out with quarterly earnings of $0.66 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.87 per share a year ago.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

The semiconductor company is selling a majority stake in a Brazilian subsidiary. This will be unloaded for approximately $166 million in cash.

SMART Global Holdings, Inc. is transitioning from memory modules to high-performance computing manufacturing and LED-based products. The spinoff of its struggling Brazil Memory business should improve SMART Global Holdings' financials and balance sheet. Selling 81% of the Brazil business for $166M in cash will reduce SMART Global's net debt.

SMART Global Holdings, Inc. (SGH) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

SMART Global Holdings, Inc. (SGH) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

SMART Global Holdings, Inc. (NASDAQ:SGH ) Q2 2023 Earnings Conference Call April 5, 2023 4:30 PM ET Company Participants Mark Adams - Chief Executive Officer Jack Pacheco - Chief Operating Officer Ken Rizvi - Chief Financial Officer Suzanne Schmidt - Investor Relations, SMART Global Conference Call Participants Kevin Cassidy - Rosenblatt Brian Chin - Stifel Sidney Ho - Deutsche Bank Nick Doyle - Needham Operator Good afternoon. Thank you for attending today, the SMART Global Holdings, Second Quarter Fiscal 2023 Earnings Call.