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

SMART Modular Technologies, a leader in memory solutions, has launched its new T5PFLC FIPS 140-2 SSDs. These SSDs provide certified authentication and sophisticated encryption, with capacities ranging from 120GB to 2TB. The FIPS 140-2 standard ensures that sensitive data is protected against cyber threats, making it suitable for U.S. Federal government applications. Michael Guzzo emphasized that these SSDs allow for component changes while remaining compliant, cutting costs for customers. Technical specs include read speeds up to 550 MB/s and write speeds up to 530 MB/s.

SMART Global Holdings, Inc. (SGH) reported Q2 FY21 results with net sales of $304.0 million, an increase of 11.8% year-over-year. GAAP net income reached $5.8 million or $0.23 per share, reversing a net loss of $9.7 million in the prior year. Non-GAAP net income soared to $21.9 million or $0.87 per share, a 71.1% rise compared to last year. Adjusted EBITDA was $31.0 million, up 38.9%. The Intelligent Platform Solutions segment grew sales by 30% quarter-over-quarter, reflecting SGH’s diversification and growth strategies.

SMART Global Holdings, Inc. (SGH) announced the grant of inducement awards to five new employees as part of their employment commencement. Key grants include: 19,556 RSUs to Anne Kuykendall (VP and General Counsel), 21,626 RSUs to Valerie Sassani (VP of Marketing), 15,645 RSUs to Jean McDaniel (VP, Office of Transformation), 65,000 RSUs to Tom Quinn (SVP, Business Development), and 20,000 RSUs to Ravi Bali (VP of HR). These grants comply with Nasdaq Listing Rules and are part of the 2021 Inducement Plan, vesting over four years contingent on continued employment.

SMART Global Holdings (SGH) announced the appointments of three key leaders: Anne Kuykendall as General Counsel, Jean McDaniel as Vice President of the Office of Transformation, and Valerie Sassani as Vice President of Marketing and Communications. Kuykendall will oversee legal and compliance functions, while McDaniel will drive integration and standardization efforts. Sassani will enhance SGH's marketing strategy. CEO Mark Adams expressed enthusiasm for these appointments, emphasizing their potential to foster business growth and scalability.

SMART Modular Technologies, a subsidiary of SMART Global Holdings (Nasdaq: SGH), has unveiled its new DuraMemory™ high-density, low-profile DIMMs and Mini-DIMMs tailored for hyperscale data center networking. These products enhance network bandwidth and reliability, crucial for efficient data transfer. The DuraMemory solutions support various network types, particularly as 5G rollout progresses. Key benefits include a comprehensive memory portfolio, design expertise, and long-term support for OEMs, ensuring longevity and serviceability of networking equipment.

SMART Modular Technologies, a subsidiary of SMART Global Holdings (Nasdaq: SGH), has expanded its DuraFlash™ ME2 SATA SSD product line. The new additions include M.2 2242 SATA, mSATA, and Slim SATA, complementing existing offerings. These SSDs are built using Triple-Level Cell 3D NAND technology and are suitable for various applications, featuring enhanced reliability through advanced error detection and correction. Capacities range from 240GB to 1920GB, with read and write speeds up to 560MB/s and 520MB/s respectively. This expansion aims to provide customers with a broader selection of reliable storage solutions.

SMART Global Holdings (Nasdaq: SGH) will host a virtual Analyst Day on April 20, 2021, starting at 8:00 a.m. PT / 11:00 a.m. ET. CEO Mark Adams and the SGH executive team will present, followed by a live Q&A session. Attendees can register here. The event will be streamed live and archived on SGH's Investor Relations website.

SMART Global Holdings (SGH) will announce its financial results for Q2 FY21 on April 6, 2021, after market closure. A conference call is scheduled at 1:30 PM PT to discuss these results and provide a business outlook. The call can be accessed domestically at (844) 912-3896 and internationally at (236) 714-3344, using access code 8075139. Investors can also access a live webcast and a replay of the call on SGH's investor website, which will be available for one year.

SMART Global Holdings, Inc. (SGH) announced the grant of 34,009 time-based restricted share units to Thierry Pellegrino, appointed on March 8, 2021, as Senior Vice President and President of Specialty Computing. This grant was approved by the independent Compensation Committee as an inducement for Pellegrino's employment, in compliance with Nasdaq Listing Rules. The shares will vest over four years, with 25% vesting on April 20, 2022. SGH focuses on designing and manufacturing electronic products in computing, memory, and LED lighting technologies.