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Long Position on SGH @ $47.00 on 3/23/2018 (Momentum)

Bullish cup and handle on SGHSMART Global Holdings, Inc. (SGH) designs, manufactures, and supplies specialty memory solutions worldwide.

The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

It also provides flash memory, USB, and serial advanced technology attachment products primarily for use in communications equipment, printers, servers and storage products, switches, and routers; and aerospace, automotive, and defense industries, as well as industrial applications.

In addition, the company offers supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging. SMART Global Holdings, Inc. sells its products to OEMs through direct sales force and independent sales representatives in North America, Latin America, Asia, and Europe. 

The company reported its quarterly results last night. Ahead of that, shares have formed a bullish "cup and handle" and higher share prices are expected for this stok. 

Second Quarter Fiscal 2018 Highlights:

  • Net sales of $314.0 million, 83% higher than prior year quarter
  • GAAP operating income of $45.1 million
  • GAAP net income of $36.8 million
  • Adjusted EBITDA of $56.2 million
  • GAAP diluted EPS of $1.60 
  • Non-GAAP diluted EPS of $1.73

Higher share prices are expected for this stock.

52-Weeks Trading Range: $11.50 - $47.72

Entry Point: $47.00

Stop Loss: $44.75

Target Price: $51.60

 

Updates

3/26/2018 1:26:08 PM

SGH closed at $53.77

Position closed on 3/26/2018 at price of $53.77 with a 14.40% gain in 3 days.

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