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SMART Global Holdings, Inc. (SGH) delivers innovative specialty memory, storage, and hybrid solutions for global technology markets. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives.
Access official press releases and curated analysis covering product innovations, OEM partnerships, and market expansions. Our repository ensures transparent tracking of SGH's progress in memory module advancements, supply chain developments, and leadership in electronics infrastructure solutions.
Discover updates across key business areas including enterprise computing solutions, industrial applications, and emerging memory technologies. Content is organized for efficient navigation, enabling quick access to earnings announcements, executive insights, and operational milestones.
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SMART Global Holdings (SGH) has appointed Thierry Pellegrino as Senior Vice President and President of its Specialty Computing business in Fremont, California. Pellegrino, who brings over 22 years of experience from Dell Technologies, will oversee the shift towards application-specific computing solutions for both on-premise and cloud deployments. His leadership aims to integrate the businesses of Penguin Computing, SMART Embedded Computing, and SMART Wireless Computing, focusing on innovation and expansion into new customer segments.
SMART Global Holdings (SGH) has announced the approval of restricted share units totaling 794,640 ordinary shares to 519 non-executive employees resulting from the acquisition of Cree, Inc.'s LED Products business unit, finalized on March 1, 2021. Additionally, Claude Demby, who will lead Cree LED, received 98,419 time-based restricted share units and performance-based awards totaling 15,000 shares. The vesting of these shares is contingent on employment and specific financial performance targets, promoting long-term commitment and alignment with company goals.
SMART Global Holdings (SGH) has finalized its acquisition of Cree, Inc.'s Cree LED Products business unit for an undisclosed amount, marking a significant step in SGH's growth strategy. This acquisition enhances SGH's portfolio in specialty lighting, leveraging Cree LED's strong customer relationships and R&D capabilities, supported by over 2,000 patents. The deal is anticipated to improve margins and cash flow, contributing positively to non-GAAP EPS. Claude Demby will lead the new Cree LED business unit within SGH, focusing on specialty lighting solutions.
SMART Modular Technologies, a subsidiary of SMART Global Holdings (NASDAQ: SGH), has launched a new DDR5 module product family aimed at enhancing memory performance and efficiency. DDR5 technology offers double the performance of DDR4 with data rates between 4.8 Gbps and 6.4 Gbps, improved power efficiency, and higher memory efficiency. The introduction includes RDIMMs, UDIMMs, and SODIMMs with capacities from 16GB to 64GB, effectively supporting sectors like HPC, AI, and edge computing.
SMART Global Holdings (NASDAQ: SGH) announced the grant of inducement awards to its new CFO, Ken Rizvi, effective February 15, 2021. The awards include 49,857 time-based restricted share units (RSUs) and performance-based restricted share units (PRSUs) with stock price appreciation conditions of 150% and 200%. The RSUs will vest over four years, while the PRSUs will vest annually over the same period, contingent on the stock price meeting specified thresholds. These grants align with NASDAQ rules and are part of the SMART Global Holdings 2021 Inducement Plan.
SMART Modular Technologies, a subsidiary of SMART Global Holdings (NASDAQ: SGH), has launched the SMART ARC™ anti-vibration retention clamp. This innovative product secures memory modules in harsh environments, enhancing reliability and performance. Key benefits include compatibility with standard single board computers, cost-effectiveness, and the ability to withstand high-vibration conditions with a shock level requirement of 30G. Available now, the SMART ARC is sold as part of kits with DDR4 memory modules designed for extreme conditions. The move aligns with growing data needs, ensuring memory modules remain secured for demanding applications.
SMART Global Holdings (SGH) announces the appointment of Ken Rizvi as Senior Vice President and Chief Financial Officer, effective February 15, 2021. Rizvi joins from UTAC Holdings, bringing over 20 years of experience in the technology sector. His transition allows current CFO Jack Pacheco to concentrate on his roles as Chief Operating Officer and President of SMART Modular Technologies. CEO Mark Adams expressed confidence in Rizvi’s financial expertise, which is expected to positively impact SGH's strategic growth and diversification efforts.
SMART Global Holdings, Inc. (NASDAQ: SGH) reported its Q1 fiscal 2021 results, showing net sales of $291.7 million, a 7.2% increase year-over-year. The GAAP net income rose to $2 million or $0.08 per share, compared to $0.2 million or $0.01 per share last year. Non-GAAP net income was $19.6 million or $0.78 per share, reflecting a significant growth of 46.4% from the prior year. Additionally, Adjusted EBITDA reached $29.5 million, up 25.4% year-over-year.
SMART Global Holdings (SGH) will host one-on-one meetings at the 23rd Annual Needham Virtual Growth Conference on January 11-12, 2021. Management will also participate in a fireside chat scheduled for January 12 at 2:00 p.m. ET, which can be streamed live on the SGH website. Interested participants can register for the conference and arrange meetings by contacting a representative at Needham & Company. SGH specializes in designing electronic products focused on computing and memory technology for various sectors, including enterprise and government.
SMART Global Holdings (SGH) will report its financial results for Q1 fiscal 2021 after the market closes on January 5, 2021. A conference call will follow at 1:30 p.m. PT to discuss the results and provide a future outlook. Investors can tune into the webcast available on the SGH website. The company specializes in designing and manufacturing products focused on computing and memory technology, servicing various sectors including enterprise and government.
