SGH repurchases demonstrate board’s confidence, says Rosenblatt

After SGH announced the exchange of $150M of its existing convertible senior notes due in 2026 for convertible senior notes due in 2029 and the repurchases of 325,000 of its ordinary shares, Rosenblatt analyst Kevin Cassidy said he views the news as a positive as the repurchases demonstrates the board’s confidence. He maintains a Buy rating on SGH shares.