Smart Global Holdings Inc Stock Research

Market Summary

USD17.24+0.61

Delayed

3.67%

SGH Stock Price

SGH RSI Chart

SGH Valuation

Market Cap

850.6M

Price/Earnings (Trailing)

16.35

Price/Sales (Trailing)

0.47

EV/EBITDA

4.57

Price/Free Cashflow

-40.05

SGH Price/Sales (Trailing)

SGH Profitability

EBT Margin

3.87%

Return on Equity

14.78%

Return on Assets

2.88%

Free Cashflow Yield

-2.5%

SGH Fundamentals

SGH Revenue

Revenue (TTM)

1.8B

Revenue Y/Y

-0.95%

Revenue Q/Q

6.35%

SGH Earnings

Earnings (TTM)

52.0M

Earnings Y/Y

-75.07%

Earnings Q/Q

-74.99%

Price Action

52 Week Range

12.0426.16

(Low)(High)

Last 7 days

8.2%

Last 30 days

2.3%

Last 90 days

15.9%

Trailing 12 Months

-33.3%

SGH Financial Health

Current Ratio

2.03

Debt/Equity

1.26

Debt/Cashflow

0.27

SGH Investor Care

Shares Dilution (1Y)

0.67%

Diluted EPS (TTM)

0.96

Peers (Alternatives to Smart Global Holdings)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
NVDA	685.0B	27.0B	22.38%	1.88%	156.82	25.39	0.22%	-55.21%
AVGO	267.5B	34.4B	8.86%	5.21%	23.27	7.77	20.74%	70.65%
TXN	169.8B	20.0B	8.04%	3.56%	19.41	8.48	9.18%	12.61%
AMD	158.0B	23.6B	25.19%	-10.36%	119.69	6.69	43.61%	-58.25%
INTC	135.2B	63.1B	28.98%	-31.15%	16.86	2.14	-20.21%	-59.66%
FSLR	23.2B	2.6B	11.15%	159.73%	-525.01	8.85	-10.40%	-109.42%
LSCC	13.1B	660.4M	11.60%	56.69%	73.19	19.83	28.14%	86.49%
MID-CAP
AMKR	6.4B	7.1B	-0.57%	19.80%	8.33	0.9	15.53%	19.10%
POWI	4.8B	651.1M	1.05%	-8.68%	28.22	7.4	-7.41%	3.92%
SMALL-CAP
ICHR	944.9M	1.3B	-0.40%	-8.09%	12.98	0.74	16.70%	2.69%
SGH	850.6M	1.8B	2.31%	-33.26%	16.35	0.47	8.07%	32.37%
AOSL	742.9M	794.4M	1.24%	-50.69%	9.39	0.94	9.29%	-82.10%
CEVA	706.4M	134.6M	-4.52%	-25.14%	-30.47	5.25	9.73%	-5954.29%
MX	406.7M	337.7M	-1.49%	-45.12%	-50.61	1.2	-28.80%	-114.17%

Financials for Smart Global Holdings

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-0.2%	1,815	1,819	1,849	1,825	1,679
Gross Profit	-0.8%	449	453	467	437	378
Operating Expenses	4.0%	352	339	349	351	296
S&GA Expenses	8.4%	239	220	218	207	186
R&D Expenses	8.3%	84.00	77.00	73.00	70.00	60.00
EBITDA	-13.0%	115	132	130	-	-
EBITDA Margin	-12.8%	0.06*	0.07*	0.07*	-	-
Earnings Before Taxes	-20.6%	70.00	89.00	97.00	65.00	61.00
EBT Margin	-20.4%	0.04*	0.05*	0.05*	-	-
Interest Expenses	-13.8%	-24.10	-21.17	-19.71	-19.65	-19.55
Net Income	-21.8%	52.00	67.00	68.00	36.00	39.00
Net Income Margin	-21.6%	0.03*	0.04*	0.04*	-	-
Free Cahsflow	-131.8%	-21.24	67.00	95.00	-	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	15.0%	1,808	1,572	1,554	1,509	1,324
Current Assets	-2.6%	1,122	1,152	1,168	1,132	944
Cash Equivalents	-10.5%	325	363	387	366	233
Inventory	28.8%	416	323	365	334	318
Net PPE	7.2%	165	154	159	149	149
Goodwill	169.8%	200	74.00	75.00	73.00	72.00
Liabilities	21.3%	1,448	1,194	1,155	1,154	991
Current Liabilities	7.0%	552	516	525	534	535
Long Term Debt	0.7%	494	490	377	-	-
LT Debt, Current	136.5%	28.00	12.00	9.00	6.00	36.00
LT Debt, Non Current	34.8%	797	591	485	484	341
Shareholder's Equity	-5.2%	352	372	393	355	332
Retained Earnings	9.4%	275	251	231	207	205
Additional Paid-In Capital	-8.1%	412	448	438	423	412
Accumulated Depreciation	11.8%	160	143	130	-	-
Shares Outstanding	1.5%	49.00	49.00	50.00	50.00	49.00
Minority Interest	4.8%	7.00	7.00	6.00	6.00	9.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-84.9%	16.00	105	132	145	133
Share Based Compensation	1.6%	41.00	40.00	39.00	37.00	33.00
Cashflow From Investing	-539.6%	-249	-38.97	-45.81	-70.38	-82.93
Cashflow From Financing	337.9%	323	74.00	110	151	16.00
Buy Backs	3.8%	55.00	53.00	13.00	3.00	48.00

Risks for SGH

What is the probability of a big loss on SGH?

100%

Probability that Smart Global Holdings stock will be more than 20% underwater in next one year

73.5%

Probability that Smart Global Holdings stock will be more than 30% underwater in next one year.

64.2%

Probability that Smart Global Holdings stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SGH drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Smart Global Holdings was unfortunately bought at previous high price.

Drawdowns

Returns for SGH

Cumulative Returns on SGH

-7.1%

5-Year Cumulative Returns

12.4%

3-Year Cumulative Returns

What are the long-term rolling returns for SGH?

FIve years rolling returns for Smart Global Holdings.

Annualized Returns

Which funds bought or sold SGH recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-28.49	-207,316	421,684	-%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	-	2,000	-%
2023-02-28	Voya Investment Management LLC	unchanged	-	-18,205	272,795	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	added	46.11	62,000	228,000	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-	-8,000	-	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	reduced	-98.39	-1,970	30.00	-%
2023-02-15	NOMURA HOLDINGS INC	added	11.06	63,000	1,796,000	0.01%
2023-02-15	B. Riley Asset Management, LLC	sold off	-100	-1,499,000	-	-%
2023-02-15	State of Wyoming	new	-	83,477	83,477	0.03%
2023-02-15	JANE STREET GROUP, LLC	added	236	343,304	502,304	-%

Latest Funds Activity

Are funds buying SGH calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SGH

No. of Funds

Smart Global Holdings News

Schedule 13G FIlings of Smart Global Holdings

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	ameriprise financial inc	12.56%	6,104,637	SC 13G/A
Feb 13, 2023	blackrock inc.	16.8%	8,255,798	SC 13G/A
Feb 09, 2023	vanguard group inc	9.57%	4,714,468	SC 13G/A
Feb 03, 2023	state street corp	5.30%	2,609,928	SC 13G/A
Jan 23, 2023	blackrock inc.	16.6%	8,128,978	SC 13G/A
Feb 14, 2022	ameriprise financial inc	11.77%	2,852,946	SC 13G/A
Feb 11, 2022	russell investments group, ltd.	0.27%	66,490	SC 13G/A
Feb 10, 2022	state street corp	5.43%	1,339,438	SC 13G
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 07, 2022	blackrock inc.	13.3%	3,279,602	SC 13G/A

SGH Fair Value

Smart Global Holdings fair value in different scenarios

The table shows the Fair Value estimates for Smart Global Holdings for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	12.54 -27.26%	18.66 8.24%	29.98 73.90%	41.97 143.45%	64.05 271.52%
Current Inflation	11.58 -32.83%	16.90 -1.97%	26.55 54.00%	36.66 112.65%	55.42 221.46%
Very High Inflation	10.39 -39.73%	14.78 -14.27%	22.51 30.57%	30.48 76.80%	45.47 163.75%

Historical Smart Global Holdings Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Smart Global Holdings

View All Filings

Date Filed	Form Type	Document
Feb 14, 2023	4	Insider Trading
Feb 14, 2023	4	Insider Trading
Feb 14, 2023	4	Insider Trading
Feb 14, 2023	4	Insider Trading
Feb 14, 2023	4	Insider Trading
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 13, 2023	8-K	Current Report
Feb 13, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 03, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for SGH

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-10	Straub Maximiliane C	acquired	-	-	8,417	-
2023-02-10	Ingram Bryan	acquired	-	-	8,417	-
2023-02-10	FURR RANDY W	acquired	-	-	8,417	-
2023-02-10	NAYYAR SANDEEP	acquired	-	-	8,417	-
2023-02-10	HERSCHER PENNY	acquired	-	-	8,417	-
2023-02-02	HERSCHER PENNY	gifted	-	-	1,348	-
2023-02-02	HERSCHER PENNY	gifted	-	-	-1,348	-
2023-01-31	HERSCHER PENNY	sold	-15,003	16.67	-900	-
2023-01-20	Clark Joseph Gates	sold (taxes)	-40,622	16.54	-2,456	president, led solutions
2023-01-20	Rizvi Ken	sold (taxes)	-83,708	16.54	-5,061	svp and cfo

About Smart Global Holdings

Mark W. Adams

3930

SMART Global Holdings, Inc. designs and manufactures specialty solutions for the computing, memory, and LED markets in the United states, Brazil, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platforms Solutions, and LED Solutions segments. The company offers dynamic random access memory modules for desktops, notebooks, servers, and smartphones; embedded and removable flash memory products; and flash component products. It also provides supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging. In addition, the company offers Penguin Computing solutions to customers in financial services, energy, government, social media, and education end markets; Penguin Edge solutions to government, telecommunications, health care, smart city, network edge, and industrial applications; and hardware and software products, including solutions based on the Open Compute Project. Further, it provides servers, software, integrated turn-key clusters, enterprise-grade storage, and networking in hardware or cloud-based solutions through Penguin-On-Demand; Open Compute Tundra Extreme Scale products; turn-key storage solutions; and rackmount servers and GPU accelerated computing platforms. Additionally, the company's LED Solutions offers application-optimized LEDs for lighting, video screens, and specialty lighting applications under the CreeLED brand. It sells its products directly to original equipment manufacturers, enterprise, government and other end customers through direct sales force, e-commerce, customer service representatives, on-site field application engineers, independent sales representatives, distributors, integrators, and resellers. The company was formerly known as Saleen Holdings, Inc. and changed its name to SMART Global Holdings, Inc. in August 2014. SMART Global Holdings, Inc. was founded in 1988 and is headquartered in Newark, California.

SGH Income Statement

2022-11-25

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Nov. 25, 2022	Nov. 26, 2021
Total net sales	$ 465,478	$ 469,944
Total cost of sales	347,068	347,743
Gross profit	118,410	122,201
Operating expenses:
Research and development	24,056	17,657
Selling, general and administrative	71,022	52,550
Change in fair value of contingent consideration	3,700	17,200
Other operating (income) expense	2,041	0
Total operating expenses	100,819	87,407
Operating income	17,591	34,794
Non-operating (income) expense:
Interest expense, net	8,037	5,106
Other non-operating (income) expense	(660)	1,235
Total non-operating (income) expense	7,377	6,341
Income before taxes	10,214	28,453
Income tax provision	4,890	7,755
Net income	5,324	20,698
Net income attributable to noncontrolling interest	332	671
Net income attributable to SGH	$ 4,992	$ 20,027
Earnings per share:
Basic (in usd per share)	$ 0.10	$ 0.41
Diluted (in usd per share)	$ 0.10	$ 0.37
Shares used in per share calculations:
Basic (in shares)	48,962	49,011
Diluted (in shares)	49,791	54,635
Products
Total net sales	$ 390,189	$ 436,684
Total cost of sales	318,660	335,424
Services
Total net sales	75,289	33,260
Total cost of sales	$ 28,408	$ 12,319

SGH Balance Sheet

2022-11-25

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 25, 2022	Aug. 26, 2022
Assets
Cash and cash equivalents	$ 324,821	$ 363,065
Accounts receivable, net	306,323	410,323
Inventories	416,082	323,084
Other current assets	74,685	55,393
Total current assets	1,121,911	1,151,865
Property and equipment, net	165,033	153,935
Operating lease right-of-use assets	83,018	77,399
Intangible assets, net	193,337	77,812
Goodwill	199,691	74,009
Other noncurrent assets	44,670	37,044
Total assets	1,807,660	1,572,064
Liabilities and Equity
Accounts payable and accrued expenses	389,151	413,354
Current debt	28,435	12,025
Acquisition-related contingent consideration	24,500	0
Other current liabilities	109,721	90,161
Total current liabilities	551,807	515,540
Long-term debt	796,985	591,389
Noncurrent operating lease liabilities	76,950	71,754
Other noncurrent liabilities	22,531	14,835
Total liabilities	1,448,273	1,193,518
Commitments and contingencies
SMART Global Holdings shareholders’ equity:
Ordinary shares, $0.03 par value; authorized 200,000 shares; 53,940 shares issued and 49,339 outstanding as of November 25, 2022; 52,880 shares issued and 48,604 outstanding as of August 26, 2022	1,618	1,586
Additional paid-in capital	411,612	448,112
Retained earnings	274,975	251,344
Treasury shares, 4,601 and 4,276 shares held as of November 25, 2022 and August 26, 2022, respectively	(112,435)	(107,776)
Accumulated other comprehensive income (loss)	(223,650)	(221,655)
Total SGH shareholders’ equity	352,120	371,611
Noncontrolling interest in subsidiary	7,267	6,935
Total equity	359,387	378,546
Total liabilities and equity	$ 1,807,660	$ 1,572,064