Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Analysts Continue To See Sharp Upside In SMART Global Post Q2 Results

  • Analysts had a mixed take on SMART Global Holdings Inc (NASDAQ:SGHpost Q2 results.
  • Needham analyst Ravindra Gill raised the price target to $45 (89% upside) with a Buy rating following the seventh consecutive beat raise quarter. SGH remains the firm's Top Pick for 2022.
  • SGH's commercial and government customers have already designed and contracted the HPC/ML systems.
  • Memory thrived in the quarter, driven by upgrade cycles and strong demand in core DDR3, DDR4, and Flash products for the networking, telecom, and storage end markets. 
  • SGH has done an excellent job focusing on LED sales in high-growth markets such as video, architectural, and landscaping specialty lighting markets. 
  • Barclays analyst Tom O'Malley lowered the price target to $30 from $35 (26% upside) and kept an Overweight rating. 
  • While SGH shares have been hit hardest in the group this year, he does not see anything fundamentally worsening in the business. O'Malley noted the company's diversification efforts make the name more attractive.
  • Rosenblatt analyst Kevin Cassidy maintained a Buy and raised the price target from $50 to $60 (152% upside).
  • Price Action: SGH shares traded higher by 2.29% at $23.70 on the last check Wednesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.