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SGH

Smart Global

$31.89

0.2 (0.63%)

09:24
01/09/19
01/09
09:24
01/09/19
09:24

Smart Global downgraded to Hold at Needham after Q1 earnings miss

As reported earlier, Needham analyst Rajvindra Gill downgraded Smart Global two notches to Hold from Strong Buy after the company's Q1 earnings and Q2 guidance yesterday. The analyst says he had expected unit growth driven by the rise in "local content rules to 60% in 2019", but with the company's largest smartphone customers pushed out memory purchases due to declining memory prices, local content rules are now expected to remain at 50% throughout 2019. Subsequently, Gill expects Brazil segment sales to decline 20-25% in FY19 and believes that a neutral stance on the stock is warranted by the "lack of mobile growth and a steep cut to estimates".

  • 09

    Jan

  • 15

    Jan

SGH Smart Global
$31.89

0.2 (0.63%)

01/09/19
ROTH
01/09/19
NO CHANGE
Target $40
ROTH
Buy
Smart Global price target lowered to $40 from $60 at Roth Capital
Roth Capital analyst Suji Desilva lowered his price target for Smart Global to $40 from $60 on reduced near-term visibility. Nonetheless, the analyst believes the underlying growth opportunity remains intact and expects longer-term recovery in Brazil and supply chain ordering patterns to normalize. He reiterates a Buy rating on the shares.
01/09/19
STFL
01/09/19
NO CHANGE
Target $50
STFL
Buy
Smart Global price target lowered to $50 from $62 at Stifel
Stifel analyst Kevin Cassidy attributed Smart Global's weaker than expected February quarter guidance to the Brazilian government's decision not to increase its mobile phone local content manufacturing rules by 10% in 2019 and he cut his revenue and gross margin estimates based on lower Brazilian mobile phone unit shipments and lower factory utilization. Cassidy, who expects that the Brazilian government will enact increasing the local content rule in 2020, keeps a Buy rating on Smart Global but cut his price target on the stock to $50 from $62.
01/09/19
NEED
01/09/19
DOWNGRADE
NEED
Hold
Smart Global downgraded to Hold from Strong Buy at Needham
11/14/18
STFL
11/14/18
NO CHANGE
STFL
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.

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ROG

Rogers Corporation

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AMSWA

American Software

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Rogers Corporation

$136.52

1.22 (0.90%)

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LOPE

Grand Canyon

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MANT

ManTech

$58.49

0.58 (1.00%)

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GDDY

GoDaddy

$72.30

-0.39 (-0.54%)

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GDOT

Green Dot

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SITC

Site Centers

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A

Agilent

$78.56

1.08 (1.39%)

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GDDY

GoDaddy

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VIPS

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GDOT

Green Dot

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-0.06 (-0.08%)

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MANT

ManTech

$58.49

0.58 (1.00%)

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SREV

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GoDaddy

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A

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VIPS

Vipshop

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