Today, SMART Global Holdings Inc. (SGH) rose on the charts at $50.00 per share at last check in extended trading, up 5.15%. SMART Global stock fell -1.14% on Tuesday to close the regular session at $47.55. SGH stock traded for 0.77 million, compared to 331.88K over the past three months. SGH stock oscillated between $46.45 and $49.3314. With a 50-day moving average of $46.35, SGH stock is above its 200-day moving average of $39.88. Furthermore, the SGH stock has a RSI of 54.39. SGH stock rose after the company announced its financial results after the market closed.

SGH’s performance: how did it fare?

Leading providers of computing, memory, and specialty LED solutions, SGH’s businesses are in the business of designing and manufacturing electronics. Enterprise, government, and OEM customers are SGH’s focus areas. SGH businesses develop application-specific products and provide support to those customers. As a strategic partner, SGH provides customers with a complete package of technologies, service, technical support, and global logistics expertise.

SMART Global released its earnings report for the third quarter of fiscal 2021.

Financial Highlights:

• SGH’s net GAAP sales of $437.7 million increased by 56% compared to the same period last year.
• SGH reported a net GAAP loss of ($7.2) million, or ($0.30) per diluted share which was an income of $0.8 million, or $0.03 per diluted share in the same period last year.
• Compared to the same period last year, SGH’s net income of $35.5 million, or $1.39 per diluted share was up 107.6% and 98.6%, respectively.
• SGH recorded $51.4 million in adjusted EBITDA, 102.3% higher than the same period last year.
• In addition, SGH outperformed its earnings guidance and set a record for revenues and gross margins.
• After joining SGH, Cree LED achieved strong results in its first quarter.
• Together with continued top line growth in its Intelligent Platform Solutions Group and strong operating performance in its Memory Solutions Group, primarily composed of Brazil and Specialty Memory, these results demonstrate the benefit of SGH’s diversification strategy and growth.

Recent development:

Global memory solutions leader SMART Modular Technologies, a SGH subsidiary, recently announced the new PCIe/NVMe M2 2280 and U2 flash drives for aerospace, defense, and industrial applications that require safe, reliable, and secure storage. SGH developed the T5EN to complement its existing product line, which is demonstrating a trend toward NVMe in embedded systems. In engineering development, SGH-subsidiary sources and tests all of its components to make sure high performance and reliability.