SMART Global Holdings Holding On To Substantial Gain After Early Rally

(RTTNews) - After moving sharply higher early in the session, shares of SMART Global Holdings (SGH) continue to see substantial strength in late-day trading on Friday. SMART is currently up by 25.9 percent after reaching its best intraday level in over three months.

The early rally by SMART acme after the company reported fiscal fourth quarter results that exceeded analyst estimates on both the top and bottom lines.

SMART reported adjusted earnings of $1.72 per share on net sales of $374.0 million compared to analyst estimates for earnings of $1.66 per share and sales of $369.0 million.