Silicon Graphics International Corp (SGI) is Downgraded by Needham to Hold

Silicon Graphics International Corp (SGI) was Downgraded by Needham to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Needham advised their investors in a research report released on Aug 12, 2016.

On the company’s financial health, Silicon Graphics International Corp reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.01. The company had revenue of $122.71 million for the quarter, compared to analysts expectations of $120.67 million. The company’s revenue was down -19.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.12 EPS.

Silicon Graphics International Corp (SGI) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $5.67 and reached the intraday high at $5.74. The bulls started the profit booking and pushed the shares to intraday low of $5.63. The trading session was marked by a volume range of 3,03,321 shares exchanging hands. The 52-week high of the shares is $7.79 and the 52-week low is $3.88. The market cap of the company stands at $207 M and there are 3,62,77,436 shares in public circulation.

In a different news, on Apr 7, 2015, Jennifer Pileggi (SVP, General Counsel/Corp Sec) sold 1,615 shares at $8.88 per share price. According to the SEC, on Feb 18, 2015, Mekonnen P. Asrat (VP, Corporate Controller & PAO) sold 5,447 shares at $9.40 per share price.

Silicon Graphics International Corp. (SGI) is engaged in offering solutions for compute data analytics and data management. The Company operates through segment including Product and Service. The Product segment consists of its compute and storage solutions. The compute solutions include its scale-out computing scale-up computing software and cloud/Web solutions and integrated third-party hardware and software products. Its storage solutions include both hardware and software offerings. The Service segment consists of customer service support and professional services. Its customer support organization provides ongoing maintenance and technical support for its products and some third-party products as well as contracted maintenance services hardware deployment services time and materials-based services and spare parts. Its professional services organization provides value added services associated with technology consulting project management and customer education.

Silicon Graphics International Corp

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