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

SMART Global Holdings, Inc. (SGH) will host its quarterly financial conference call for the second quarter of fiscal year 2023 on April 4, 2023, at 1:30 p.m. PDT. The financial results will be released prior to the call. Interested participants can access the live webcast via the SGH investor relations website. For those unable to attend, a replay of the call will be available for one week following the event.

This call is an opportunity for stakeholders to gain insights into SGH’s performance and strategic direction, reflecting the company's commitment to transparency and investor engagement.

DURHAM, N.C.--(BUSINESS WIRE)--Cree LED, a company under SGH, announces the launch of three new surface mount diode (SMD) LEDs designed for large-format, high-resolution video screen applications. These new products enhance performance for various display types, including stadium signs and roadway signs. The CV94A-FGC LED offers a 90°/45° beam angle, while the CLMWB-FKC is optimized for outdoor LED video screens. The UHD111A-FKA LED is designed for indoor displays, ensuring improved brightness and image quality. All three products are waterproof and equipped with UV inhibitors for reliability in tough conditions, available with short lead times.

Stratus Technologies (SGH) will present its AI-powered Edge Computing platforms at the 27th ARC Industry Leadership Forum in Orlando, Florida, from February 6-9.

Stratus collaborates with Streamline Innovations to showcase sustainable gas treating solutions, emphasizing operational efficiency and emissions reduction.

Stephen Greene, VP at Stratus, highlighted the critical role of actionable data for safe operations. The demonstration includes the Stratus ztC Edge platform, designed for enhanced uptime and cost-efficiency in oil and gas applications.

SMART Global Holdings (SGH) announced a private exchange agreement to exchange $150 million of its 2.25% convertible senior notes due 2026 for $150 million of new 2.000% convertible senior notes due 2029, along with approximately $15.6 million in cash. This transaction aims to extend maturities while maintaining liquidity. Additionally, SGH plans to repurchase about 325,000 ordinary shares for roughly $5.4 million. The new notes have an initial conversion price of approximately $21.23 per share, a 27.5% premium over the last reported price of $16.65. The exchange transaction is expected to settle by January 23, 2023.

Cree LED, a division of SGH, has launched its new XLamp® Pro9™ LEDs, which offer up to 15% higher efficacy for 90 and 95 color rendering index (CRI) without compromising color quality. These LEDs provide the same performance as standard 80 CRI LEDs, enhancing light output and efficiency in commercial applications. Pro9 LEDs feature the highest operating temperature rating of 105°C and share mechanical and electrical characteristics with standard LEDs, allowing for easy upgrades by lighting manufacturers.

SMART Global Holdings, Inc. (SGH) reported its Q1 FY23 financial results, achieving net sales of $465 million, a 6.3% increase from the previous quarter. The GAAP gross margin improved to 25.4%, while non-GAAP gross margin reached a record 27.8%. GAAP EPS declined to $0.10 from $0.40 in the prior quarter, while non-GAAP EPS was $0.79, a slight dip from $0.80. The company closed its acquisition of Stratus Technologies on August 29, 2022. For Q2 FY23, SGH projects net sales between $410 million and $460 million.

SGH company, Cree LED, and Star Headlight & Lantern Co. have settled a patent infringement dispute. Cree LED has granted Star a limited license to certain patents related to LED components, demonstrating a mutually beneficial resolution. This agreement may enhance Star's product offering while allowing Cree LED to maintain its intellectual property rights.

SMART Global Holdings (SGH) has announced its upcoming quarterly financial conference call scheduled for January 3, 2023, at 1:30 PM PST, to discuss its first quarter fiscal year 2023 earnings. The results will be released prior to the call. Investors can access the live webcast on the SGH investor relations website. A telephonic replay will also be available for one week following the event. SGH continues to focus on enhancing technologies in computing, memory, and LED lighting solutions, aiming to foster strategic partnerships and growth opportunities.

SMART Modular Technologies, a division of SGH, has launched the DC4800 PCIe Gen 4 family of solid-state drives (SSDs) designed for high-performance data centers.

These SSDs boast a specialized controller for power efficiency and high reliability, achieving up to 99.99999% latency consistency. Available in capacities up to 7.68TB and compliant with the Open Compute Project standards, they are currently being sampled by various OEMs.