SMART Global stock falls after results, flags challenges in memory unit [Seeking Alpha]
SMART Global Holdings, Inc. - Ordinary Shares (SGH)
Last smart global holdings, inc. - ordinary shares earnings: 4/7 04:05 pm
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Source: Seeking Alpha
Revenue from the memory business came in at $83 million, representing 29% of total SGH sales, the company said, arguing that, sales declined slightly from prior quarter levels, primarily due to continued elevated inventory levels at a number of large customers. While there continues to be signs that the memory cycle is turning upwards, near-term unit demand still remains challenging at some of the company's traditional enterprise customers, CEO Mark Adams said in a post-earnings conference call. "Nevertheless, we remain confident that business will rebound as we move into the second half of our fiscal '24 and expect revenues to grow sequentially in the third quarter," Adams added. "AI is also reshaping the memory market landscape as the need for higher density and greater bandwidth becomes increasingly critical to system performance required to handle the most advanced compute workloads." The company ( SGH ) reported second quarter adjusted EPS of $0.27, surpassing estimates
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SGH
News
- SMART Modular Technologies Introduces New Family of CXL Add-in Cards for Memory Expansion in High Performance Servers [Yahoo! Finance]Yahoo! Finance
- SMART Modular Technologies Introduces New Family of CXL Add-in Cards for Memory Expansion in High Performance ServersBusiness Wire
- SMART Global Holdings, Inc. (NASDAQ: SGH) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $27.00 price target on the stock.MarketBeat
- After Plunging -14.25% in 4 Weeks, Here's Why the Trend Might Reverse for SMART Global (SGH) [Yahoo! Finance]Yahoo! Finance
- SMART Global Holdings, Inc. (NASDAQ:SGH) Q2 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
SGH
Earnings
- 4/9/24 - Beat
SGH
Sec Filings
- 4/25/24 - Form 4
- 4/24/24 - Form 144
- 4/23/24 - Form 4
- SGH's page on the SEC website