SMART Global Holdings, Inc. Ordinary Shares - SGH STOCK NEWS

SMART Global Holdings, Inc. (SGH) reported a strong third quarter for fiscal 2022, marking its ninth consecutive quarter of year-over-year revenue growth. Net sales reached $463 million, up 6% from the previous year. GAAP gross margin improved to 24.7%, while non-GAAP gross margin was 25.7%. The company posted a GAAP EPS of $0.44 compared to a loss of $(0.15) a year ago. SGH also announced its agreement to acquire Stratus Technologies, enhancing its offerings in high-availability solutions for data centers and edge markets.

SMART Modular Technologies, a division of SGH, introduces the DuraFlash^™ MP3000 PCIe NVMe SSD portfolio, enhancing storage options for data centers and telecom applications. The MP3000 series features M.2 2280, 22110, and E1.S form factors with capacities from 240GB to 1920GB and speeds up to 3500MB/s read and 2000MB/s write. It incorporates SafeDATA^™ technology for power-loss protection, targeting enterprise environments with up to 1 Drive Write per Day endurance. The MP3000 is compliant with NVMe v1.4 and includes advanced security features like self-encryption.

Cree LED, a subsidiary of SGH, showcased its innovative XLamp® Element G (XE-G) LEDs at LightFair 2022. This new product line offers enhanced light output and efficiency, highlighted by a captivating display of colors. The XE-G family was recognized by EdisonReport as a “LightFair Top 10 MUST SEE” product and will be featured in two demonstrations focusing on color mixing advantages. Additional displays include products like the Color-tunable projector and Photophyll™ Select, targeting various lighting applications.

SMART Global Holdings (SGH) announced it will host its Q3 FY22 financial conference call on June 29, 2022, at 1:30 PM PDT. The call will follow a press release detailing the company's earnings. Investors can access the live webcast through the provided link. A telephonic replay will also be available for a week post-call. SGH emphasizes its commitment to innovation across computing, memory, and LED lighting solutions, aiming to build long-term partnerships and drive growth.

Cree LED, a subsidiary of SGH, has launched the XLamp® Element G LEDs, a new class of LEDs offering nearly 3x the light output compared to XQ-E and 9x the lumen density of XP-E2. These LEDs are designed for optimal performance in color mixing applications, with a wide range of color options and an innovative package design that includes a large thermal pad. Product samples are available now, and production quantities will follow standard lead times. The XLamp Element G LEDs will be featured at LightFair 2022 in Las Vegas from June 21-23, 2022.

SMART Modular Technologies, a division of SGH, will present at the SNIA Persistent Memory + Computational Storage Summit on May 24-25, 2022. The event focuses on innovative memory solutions and computational storage technologies. Keynotes will include discussions on NVDIMM-N architecture and Computational Memory, led by industry experts Arthur Sainio and Pekon Gupta. With a focus on CXL technology, which is rapidly gaining traction, these presentations will showcase SMART’s advancements in memory solutions for high-performance computing.

SMART Modular Technologies has launched the new Kestral PCIe Optane Memory Add-in-Card (AIC), expanding memory capacity up to 2TB on specific PCIe interfaces. Designed for hyperscale environments, this innovative solution accelerates algorithms by offloading functions from the CPU. Key features include compatibility with various memory technologies, less than 150W Thermal Design Power, and support for Intelligent Algorithms. Future AICs will allow up to 4TB of Optane Memory, enhancing applications like AI and machine learning.

SMART Global Holdings (SGH) will present at several upcoming investor conferences. These include Cowen's 50th Annual Technology, Media & Telecom Conference on June 1, 2022, in New York City, Stifel's 2022 Cross Sector Insight Conference on June 9, 2022, in Boston, MA, and Rosenblatt’s 2nd Annual Age of AI Virtual Conference on June 10, 2022. Webcasts will be available on SGH’s investor relations website. To arrange meetings with SGH management, interested parties should contact their representatives at the respective conferences.

SMART Global Holdings has filed a patent infringement lawsuit against Star Headlight & Lantern Co. in the U.S. District Court for the Western District of New York. The lawsuit claims that Star infringed on four of Cree LED’s patents (U.S. Patent Nos. 8,884,510; 9,048,396; 9,865,780; and D718,258) by selling a product that incorporates six infringing LED packages. Cree LED, part of SMART Global, is committed to protecting its intellectual property and has a strong history of innovation in the LED industry.