Micron is the king of DRAM (dynamic random access memory), and when they reported earnings recently, they noted that pricing was firm and demand was strong. That stoked competitor Smart Global, a niche player with some decent earnings of its own.
Even though technology stocks have been taking it on the chin this week, Smart Global has been a light in a very dark room. Take a look at the chart below. Note the strong money flow and recent shallow pullback on lower turnover. Relative strength is impressive too, and while a period of sideways action is probable here, its move up in March was just stunning. For a tech stock, this chart is quite impressive.
We often see the big money flow into the sector on the coattails of top-performing names. If the market starts moving higher again, Smart Global will likely draw some interest.
Smart Global Holdings (NYSE: SGH) Video Chart Analysis
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About Smart Global Holdings
SMART Global Holdings, Inc. designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements. It also provides flash memory, USB, and serial advanced technology attachment products primarily for use in communications equipment, printers, servers and storage products, switches, and routers; and aerospace, automotive, and defense industries, as well as industrial applications. In addition, the company offers supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging. SMART Global Holdings, Inc. sells its products to OEMs through direct sales force and independent sales representatives in North America, Latin America, Asia, and Europe. The company was formerly known as Saleen Holdings, Inc. and changed its name to SMART Global Holdings, Inc. in August 2014. SMART Global Holdings, Inc. was founded in 1988 and is headquartered in Newark, California.
