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SGH

Smart Global

$28.92

0.57 (2.01%)

13:21
11/14/18
11/14
13:21
11/14/18
13:21

Stifel sees upside to Smart Global numbers after management meeting

In a research note from Tuesday night, Stifel analyst Kevin Cassidy wrote a note titled "Diamond in the Rough" which discussed his hosting investor meetings with Smart Global Holdings management in order to understand the company's newly acquired Penguin Computing -- now SCS -- business. Cassidy concluded from the meetings that "Smart Global's operational expertise can grow SCS's customer base, revenue, margins and free cash flow while maintaining SCS's leading edge technology." The analyst sees SCS's FY19 revenue at $198M with expanded capacity to support $400M-$500M in annual revenue, and he believes there is upside to those estimates. Cassidy maintains a Buy rating and $62 price target on Smart Global shares, and calls the company the firm's highest conviction Buy rated name.

  • 14

    Nov

  • 19

    Nov

SGH Smart Global
$28.92

0.57 (2.01%)

10/25/18
STFL
10/25/18
NO CHANGE
STFL
Hynix outlook should ease fears of extended memory downturn, says Stifel
SK Hynix in last night's Q3 earnings report saw a sequential increase in gross margin with slightly higher DRAM average selling prices quarter-over-quarter while NAND Flash selling prices s declined at roughly the same rate as in Q2, Stifel analyst Kevin Cassidy tells investors in a research note. Importantly, Hynix expects the current pricing pressure to have a short duration with customers decreasing NAND flash inventories by the end of 2018 and data center DRAM demand re-accelerating in mid-2019, says Cassidy. He believes the company's outlook and the "rational response" to the pricing environment should alleviate some market concerns about an extended downturn in the memory cycle. This benefits suppliers such as Micron Technology (MU), Smart Global Holdings (SGH) and Western Digital (WDC), Cassidy tells investors. Shares of Micron in early trading are up 49c to $35.92.
10/05/18
STFL
10/05/18
NO CHANGE
Target $62
STFL
Buy
Smart Global guidance 'may confound short sellers,' says Stifel
Stifel analyst Kevin Cassidy said Smart Global "delivered a solid beat" in Q4 and that its diversification strategy is showing its merits as demand for Specialty Memory and newly acquired Specialty Compute & Storage products came in better than expected. The analyst, who believes that guidance for sequential growth in all product lines "may confound short sellers," keeps a Buy rating on Smart Global shares and raised his price target on the stock to $62 from $61.
10/05/18
ROTH
10/05/18
NO CHANGE
Target $60
ROTH
Buy
Smart Global price target cut to $60 from $70 at Roth Capital
Roth Capital analyst Suji Desilva maintained a Buy rating on Smart Global but cut his price target to $60 from $70. Smart Global represents a differentiated investment opportunity and is a leading provider of specialty memory, compute, connectivity and power solutions, and Desilva tells investors in a research note that results and guidance in the quarter both came in ahead of consensus, reflecting continued strong execution across key segments despite broader concerns about a memory demand cycle. Recent weakness in Smart Global shares represents a "mispricing" that assumes the company is exposed to a cyclical memory downturn, he says.

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