SMART Global Holdings (SGH, $15.85) beats fiscal Q4 earnings expectations
SMART Global Holdings, Inc. posted adjusted earnings of $0.80 per share for the quarter ended August, well above the Zacks Consensus Estimate of $0.65 per share. The figure, however, is lower than the year-ago quarter’s $1.08 per share.
The company’s revenues came in at $437.7 million, falling short of the Zacks Consensus Estimate by 0.53%. Revenues were $467.71 million a year ago.
Non-GAAP gross margins were 24.6% for the quarter.
Looking ahead, SMART expects net sales for the first quarter of fiscal 2023 in the range of approximately $425 million to $475 million, or approximately $450 million at the midpoint. It is projecting GAAP gross margin to be approximately 24.5% to 26.5%, and non-GAAP gross margin of 25.5% to 27.5%. GAAP diluted earnings per share for the first quarter is expected to be around $0.14 (plus or minus $0.15), while non-GAAP diluted earnings per share are predicted to be approximately $0.60 (plus or minus $0.15), according to the company’s guidance.
SGH in downward trend: price may decline as a result of having broken its higher Bollinger Band on September 26, 2024
SGH broke above its upper Bollinger Band on September 26, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 45 similar instances where the stock broke above the upper band. In of the 45 cases the stock fell afterwards. This puts the odds of success at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 64 cases where SGH's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on October 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SGH as a result. In of 77 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SGH declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
SGH moved above its 50-day moving average on October 04, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for SGH crossed bullishly above the 50-day moving average on October 02, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SGH advanced for three days, in of 315 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 274 cases where SGH Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
General Information
a manufacturer of memory chips
Industry Semiconductors