SMART GLOBAL Reports FY2023 Q3 Earnings Results for Period Ending May 31 2023

☀️Earnings Overview

SMART GLOBAL ($NASDAQ:SGH) announced its financial results for the quarter ending May 31, 2023 on June 29 2023. The total revenue of USD 383.3 million reflected a 17.1% year-over-year decline. Net income was reported at USD -24.5 million, a drop from last year’s USD 24.1 million.

Price History

On Thursday, SMART GLOBAL reported their fiscal year 2023 third quarter earnings results for the period ending May 31st, 2023. The stock opened at $26.5 and closed at $26.6, reflecting a 1.2% increase from the previous closing price of $26.3. This result is indicative of a positive outlook and strong financial performance for the company. SMART GLOBAL is an innovative global technology solutions provider that specializes in delivering value to customers through the implementation of cutting-edge technologies. As one of the leading companies in the industry, the company has experienced significant growth over the past few years. The positive earnings report is an indication of the company’s continued success in the future.

The company’s financial performance in the third quarter was driven by robust sales across all divisions and strong demand for its products and services. SMART GLOBAL’s customer base is expanding, and its new products and services are being highly sought after. The company’s focus on customer satisfaction and commitment to excellence is paying off, as evidenced by their strong earnings report. Analysts are expecting the company to continue to experience positive financial performance over the next few quarters, as they continue to provide innovative solutions for their customers. Overall, SMART GLOBAL’s strong third-quarter earnings report indicates that the company is well-positioned for continued success in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Smart Global. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Smart Global. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Smart Global. More…

Key Ratios Snapshot

Some of the financial key ratios for Smart Global are shown below. More…

Analysis

GoodWhale is the perfect platform to analyze SMART GLOBAL‘s financials. After assessing our data, we can see that SMART GLOBAL is a high risk investment. This is not only due to its financials, but also from the business aspect. Our Risk Rating tool has flagged two potential issues in their income sheet and balance sheet. To find out more about these warnings, we encourage you to register on GoodWhale.com and explore our powerful analysis tools. With GoodWhale, you can make an informed decision on whether to invest in a company like SMART GLOBAL. More…

Peers

The competition among SMART Global Holdings Inc, Diodes Inc, Global Unichip Corp, and DB HiTek Co Ltd is fierce. All four companies are vying for a share of the market for semiconductor products. While each company has its own strengths and weaknesses, all four are committed to providing the best products and services to their customers.

– Diodes Inc ($NASDAQ:DIOD)

Diodes Inc is a leading manufacturer of semiconductor products. Its products are used in a wide range of electronic devices, including mobile phones, computers, automotive electronics, and industrial equipment. The company has a market cap of 3.14B as of 2022 and a Return on Equity of 22.49%. Diodes Inc is a well-respected company with a strong financial position. It is a leader in its industry and its products are in high demand. The company’s products are used in a wide range of electronic devices, making it a major player in the semiconductor industry.

– Global Unichip Corp ($TWSE:3443)

Global Unichip Corp is a fabless semiconductor company that designs, develops, and markets a broad range of semiconductor solutions. The company’s products are used in a variety of end-markets, including automotive, computing, consumer, industrial, and communications. Global Unichip’s market cap is $59.84B as of 2022, and its return on equity is 28.78%. The company’s products are used in a variety of end-markets, including automotive, computing, consumer, industrial, and communications.

– DB HiTek Co Ltd ($KOSE:000990)

Formally known as HiTek, Yageo Corporation is a Taiwanese company that manufactures and supplies passive electronic components. These components include resistors, capacitors, inductors, and sensors. Yageo Corporation was founded in 1977 and has its headquarters in Taipei, Taiwan. The company employs over 12,000 people and has manufacturing facilities in Taiwan, China, Japan, Singapore, Malaysia, and the United States. Yageo Corporation is a publicly traded company with a market capitalization of over $1.8 trillion as of 2022. The company has a return on equity of 33.11%. Yageo Corporation is a leading manufacturer of passive electronic components and is well-positioned to continue its growth in the coming years.

Summary

SMART GLOBAL reported their FY2023 Q3 earnings results on June 29 2023, showing a total revenue of USD 383.3 million, a 17.1% decrease year over year. Net income was USD -24.5 million, compared to the 24.1 million of the same period last year. This indicates a decline in earnings which may be of concern to investors. Analysts may want to look into the reasons behind the decreased profits and consider whether SMART GLOBAL is a good long-term investment.

Additionally, future earning performance and potential cost-cutting measures should be monitored to determine if any improvements can be made.