SMART Global Holdings, Inc. (SGH - Free Report) is slated to report fourth-quarter fiscal 2023 results on Oct 4.
The company expects revenues between $350 million and $400 million for the fiscal fourth quarter. The Zacks Consensus Estimate for the same is pegged at $375.06 million, indicating a decline of 14.3% from the year-ago reported quarter.
SMART Global anticipates non-GAAP earnings per share between 30 cents and 60 cents. The consensus mark for fiscal fourth-quarter earnings is pegged at 45 cents per share, reflecting a fall of 43.7% from the prior-year figure.
The company has a trailing four-quarter earnings surprise of 36.6%, on average.
Factors to Consider
SMART Global’s strong execution and solid momentum across Intelligent Platform Solutions are likely to have contributed well to its top-line growth in the fiscal fourth quarter.
Strengthening Penguin's cloud-based solutions and solutions focused on core, data center, AI and analytics are expected to have driven the company’s customer momentum in the quarter under review.
Solid adoption of core DDR3, DDR4 and Flash products is expected to have boosted SMART Global’s presence in the networking, telecom and storage end markets.
The increasing adoption of CV94D products and solid momentum in design wins across horticulture, indoor sports lighting and road signage applications are anticipated to have been other tailwinds in the quarter under review.
However, a challenging global macroeconomic environment and growing economic uncertainties are likely to be reflected in SMART Global’s fiscal fourth-quarter results.
A weakening momentum across memory and LED solutions might have been a major concern.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for SMART Global this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
SMART Global currently has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
SGH has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that they have the right combination of elements to beat on earnings in this reporting cycle.
Alphabet (GOOGL - Free Report) currently has a Zacks Rank #3 and an Earnings ESP of +1.04%.
Alphabet shares have gained 56.9% on a year-to-date basis. The long-term earnings growth rate for GOOGL is currently projected at 15.3%.
ASML Holding (ASML - Free Report) has an Earnings ESP of +3.95% and a Zacks Rank #3 at present.
ASML Holding shares have gained 9% on a year-to-date basis. The long-term earnings growth rate for ASML is currently projected at 24.19%.
Intel (INTC - Free Report) has an Earnings ESP of +8.98% and a Zacks Rank #3 at present.
Intel shares have gained 39.2% on a year-to-date basis. The long-term earnings growth rate for INTC is currently projected at 6.4%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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SMART Global Holdings, Inc. (SGH - Free Report) is slated to report fourth-quarter fiscal 2023 results on Oct 4.
The company expects revenues between $350 million and $400 million for the fiscal fourth quarter. The Zacks Consensus Estimate for the same is pegged at $375.06 million, indicating a decline of 14.3% from the year-ago reported quarter.
SMART Global anticipates non-GAAP earnings per share between 30 cents and 60 cents. The consensus mark for fiscal fourth-quarter earnings is pegged at 45 cents per share, reflecting a fall of 43.7% from the prior-year figure.
The company has a trailing four-quarter earnings surprise of 36.6%, on average.
Factors to Consider
SMART Global’s strong execution and solid momentum across Intelligent Platform Solutions are likely to have contributed well to its top-line growth in the fiscal fourth quarter.
Strengthening Penguin's cloud-based solutions and solutions focused on core, data center, AI and analytics are expected to have driven the company’s customer momentum in the quarter under review.
Solid adoption of core DDR3, DDR4 and Flash products is expected to have boosted SMART Global’s presence in the networking, telecom and storage end markets.
The increasing adoption of CV94D products and solid momentum in design wins across horticulture, indoor sports lighting and road signage applications are anticipated to have been other tailwinds in the quarter under review.
However, a challenging global macroeconomic environment and growing economic uncertainties are likely to be reflected in SMART Global’s fiscal fourth-quarter results.
A weakening momentum across memory and LED solutions might have been a major concern.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for SMART Global this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
SMART Global currently has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
SGH has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that they have the right combination of elements to beat on earnings in this reporting cycle.
Alphabet (GOOGL - Free Report) currently has a Zacks Rank #3 and an Earnings ESP of +1.04%.
Alphabet shares have gained 56.9% on a year-to-date basis. The long-term earnings growth rate for GOOGL is currently projected at 15.3%.
ASML Holding (ASML - Free Report) has an Earnings ESP of +3.95% and a Zacks Rank #3 at present.
ASML Holding shares have gained 9% on a year-to-date basis. The long-term earnings growth rate for ASML is currently projected at 24.19%.
Intel (INTC - Free Report) has an Earnings ESP of +8.98% and a Zacks Rank #3 at present.
Intel shares have gained 39.2% on a year-to-date basis. The long-term earnings growth rate for INTC is currently projected at 6.4%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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