3 Stocks Reaching All-Time Highs Despite Volatile Markets

Stocks were still struggling to generate any momentum through early afternoon trading hours Friday, putting major U.S. indexes on track to close the week even lower after surrendering most, if not all, of their year-to-date gains over the past few days.

Traders initiated this week’s selloff on the back of new concerns about an impending trade war with China. The latest trade woes come after President Trump on Thursday directed U.S. trade representatives to place tariffs on about $50 billion worth of Chinese imports, adding to his administration’s recent levy on imported metals.

But not every stock felt the full force of this fresh volatility. Indeed, several companies were able to buck the broader market trend to touch new all-time highs on Friday. Looking for some green during another wild trading day? Check out why these stocks reach new peaks!

1. Smart Global Holdings, Inc. ( (NASDAQ:SGH) )

Smart Global Holdings is a supplier of electronic subsystems to OEMs. The stock skyrocketed on Friday, moving as much as 15% higher to touch an all-time high of $51.19 per share. SGH soared after the company reported its latest quarterly financial results and beat analyst expectations on the top and bottom line.

For the latest full quarter, Smart Global saw adjusted earnings of $1.73 per share and total revenues of $314 million, beating the respective Zacks Consensus Estimates of $1.33 per share and $290 million. SGH has been on an upward trend for the majority of 2018, and today’s gains make it one of the hottest options in the semiconductor space right now.

2. Upland Software, Inc. ( (NASDAQ:UPLD) )

Upland Software is a provider of cloud-based Enterprise Work Management software. Through early afternoon trading, UPLD was basically flat on the day, but shares did touch a new all-time high of $31.70 during morning hours. The stock moved initially moved higher after Upland announced a major acquisition.

Upland on Friday announced that it has acquired InterFAX Communications, a Dublin, Ireland-based provider of secure, cloud-based messaging solutions. The company also said that it was raising its raising revenue, recurring revenue, and Adjusted EBITDA guidance ranges to reflect the acquisition.

3. Farmers & Merchants Bancorp, Inc. ( (NASDAQ:FMAO) )

Farmers & Merchants Bancorp operates as a locally owned and operated community bank serving Northwest Ohio and Northeast Indiana. Shares of the regional banking company surged as much as 1.7% to touch an all-time high of $40.76 during Friday afternoon trading. The stock gained as investors prepared for its ex-dividend date.

FMAO will begin trading ex-dividend on March 26. The company will pay a cash dividend of $0.13 per share on April 20. The stock is likely getting a boost on Friday as investors grab shares while they are still eligible for the dividend.

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