Smart Global Holdings jump after Q3 results beat

Penguin Solutions

10/07/2024 16:27

** Shares of chip stock SMART Global Holdings  SGH.O  up 18%
at $27.39
    ** Stock set for best day since Oct. 2021
    ** The $1.2 bln firm beat analysts' estimates for Q3 profit
and revenue, helped by demand for its AI systems, software and
services
    ** Barclays and Needham raise PTs on stock after results
    ** Co forecasts midpoint of Q4 net sales at $235 mln which
is above average estimates of 4 brokerages covering stock - LSEG
    ** Stock up 45% YTD

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))