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

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.

SMART Modular Technologies has introduced its new DuraFlash ME2 SSD portfolio, featuring the latest NAND-technology for enhanced performance and endurance. The portfolio includes various form factors such as M.2, mSATA, and 2.5” with capacities from 240GB to 1920GB. These SSDs utilize SMART’s SafeDATA technology for power-loss protection, making them suitable for high-performance computing and data centers. Victor Tsai, director of Flash products, emphasized the focus on delivering faster, cost-optimized storage solutions.

SMART Modular Technologies, a division of SGH, has launched the industry’s first DDR5 32GB Very Low Profile Registered Dual In-Line Memory Module (VLP RDIMM). This new product is tailored for applications with space constraints such as 1U blade compute and storage systems, offering improved heat dissipation and energy savings. Key features include a height of 18.75mm, support for up to 384GB in dense systems, and high performance of DDR5-4800. Sampling is set to begin in Q1 2022.

SMART Global Holdings (SGH) will host its quarterly financial conference call for Q2 FY22 on April 5, 2022, at 1:30 p.m. PDT. The earnings release will precede the call. Investors can access the live webcast at SGH investor relations. For those who prefer, a telephonic replay will be available for one week after the call. SGH focuses on technology solutions in computing, memory, and LED lighting, aiming for growth through strategic partnerships.

SMART Modular Technologies, a division of SGH, has launched the industry's first DDR5 32GB Very Low Profile Registered Dual In-Line Memory Module (VLP RDIMM). This innovative product targets space-constrained applications, offering improved heat dissipation and energy savings for 1U blade compute and storage systems. Key features include a height of 18.75mm for vertical placement, support for up to 384GB in dense configurations, and a high-performance DDR5-4800 speed. Sampling is set to begin in Q1 2022, addressing the increasing demand for VLP modules in various high-tech sectors.

SMART Global Holdings (SGH) has elected Penny Herscher as chair of its board of directors, a position she will undertake following her appointment to the board last year. Herscher brings over 15 years of experience in executive roles within the tech industry, including her current position as chair of Lumentum Holdings. CEO Mark Adams expressed confidence in Herscher's leadership, highlighting her track record of assisting companies in scaling. This transition reflects SGH's ongoing transformation and commitment to growth.

SMART Global Holdings (SGH) has successfully completed refinancing with a $275 million Term Loan A Facility and an undrawn $250 million Revolving Credit Facility. This move enhances the company’s liquidity and extends debt maturities until 2027. The refinancing replaces several existing debts, allowing SGH to potentially retire $77.7 million in earn-out liabilities. The strong demand for the refinancing indicates market confidence in SGH’s growth strategy, as noted by CFO Ken Rizvi.