SGH Stock: Why It Increased Today

By Amit Chowdhry ● Oct 13, 2021
  • The stock price of Smart Global Holdings Inc (NASDAQ: SGH) increased by over 11% pre-market today. This is why it happened.

The stock price of Smart Global Holdings Inc (NASDAQ: SGH) increased by over 11% pre-market today. Investors are responding positively to SMART Global Holdings reporting the financial results for the fourth quarter and full-year fiscal 2021.

Q4 Fiscal 2021 Financial Highlights

— Net sales of $467.7 million, up 57% from the year-ago quarter

— GAAP gross margin of 25.2%, up 620 basis points versus the year-ago quarter

— Non-GAAP gross margin of 26.4%, up 690 basis points versus the year-ago quarter

— GAAP EPS of $0.78, up 160% versus the year-ago quarter

— Non-GAAP EPS of $2.16, up 163% versus the year-ago quarter

Fiscal 2021 Highlights

— Net sales of $1.5 billion, up 34% versus the prior year

— GAAP gross margin of 20.5%, up 120 basis points versus the prior year

— Non-GAAP gross margin of 22.2%, up 240 basis points versus the prior year

— GAAP EPS of $0.83 compared with ($0.05) in the prior year

— Non-GAAP EPS of $5.22, up 102% versus the prior year

KEY QUOTE:

“Fiscal 2021 has been a transformative year for SGH. We are proud of the team’s many accomplishments across each of our lines of business, Intelligent Platform Solutions, Memory Solutions, and LED solutions. As we enter fiscal 2022, we believe we have the right platform to continue to execute our growth and diversification strategy while increasing value for our stakeholders.”

— SGH CEO Mark Adams

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.