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

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.

SMART Modular Technologies (SGH) has joined the IGEL Ready program as a technology partner, allowing for product validation within the IGEL ecosystem. This partnership aims to enhance business growth and provide flexible access to enterprise applications for customers. The IGEL Ready program, established in July 2020, comprises over 100 technology partners focused on delivering secure user experiences in cloud workspaces. With this collaboration, SMART Modular Technologies positions itself to reach new markets and improve its service capabilities.

SMART Modular Technologies, a division of SGH, has launched the SMART Kestral PCIe Optane^™ Memory Add-in-Card (AIC), designed to enhance memory expansion by up to 2TB for data centers utilizing AMD, ARM, and Intel CPUs. This innovation allows for accelerated performance in applications requiring large memory resources. Key features include support for multiple memory technologies, a flexible form factor, and the ability to field-upgrade algorithms. Future models will support up to 4TB of Optane Memory.

SMART Global Holdings (SGH) reported Q2 FY22 results with net sales of $449 million, a 48% increase year-over-year. The gross margin rose to 25.1%, showing a 750 basis point improvement vs. Q2 FY21. While GAAP EPS declined 67% to $0.04, non-GAAP EPS surged 98% to $0.87. Year-to-date figures also reflect growth, with net sales of $919 million (+54%). The Board approved a $75 million share repurchase program, indicating confidence in SGH's financial strength. The outlook for Q3 FY22 projects net sales between $435-$475 million.

SMART Global Holdings (SGH) has unveiled its new brand identity, Penguin Solutions, which consolidates its Penguin Computing and Penguin Edge brands. This rebranding aims to enhance the company's offerings in HPC, AI, and IoT/Edge solutions across the edge to core to cloud continuum. The transition reflects a commitment to deliver integrated solutions addressing complex business challenges. The global AI market is expected to grow by nearly 20% in 2022, indicating significant opportunities for Penguin Solutions to impact enterprise and federal markets.