Wall Street brokerages predict that Sanmina Corp (NASDAQ:SANM) will post earnings of $0.42 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Sanmina’s earnings. Sanmina posted earnings of $0.76 per share during the same quarter last year, which would suggest a negative year over year growth rate of 44.7%. The firm is scheduled to issue its next earnings results on Monday, April 23rd.
On average, analysts expect that Sanmina will report full-year earnings of $2.00 per share for the current financial year. For the next financial year, analysts expect that the firm will post earnings of $3.03 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Sanmina.
Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, January 29th. The electronics maker reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Sanmina had a negative net margin of 0.88% and a positive return on equity of 11.61%. Sanmina’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share.
Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Sanmina from a “hold” rating to a “strong sell” rating in a report on Friday, February 2nd. ValuEngine lowered shares of Sanmina from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. TheStreet lowered shares of Sanmina from a “b” rating to a “c+” rating in a report on Monday, January 22nd. Needham & Company LLC cut their price objective on shares of Sanmina to $33.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Finally, Craig Hallum reissued a “buy” rating and set a $37.00 price objective (down from $44.00) on shares of Sanmina in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Sanmina presently has an average rating of “Hold” and an average price target of $37.25.
In other news, SVP Brent Billinger purchased 1,500 shares of the business’s stock in a transaction on Monday, February 5th. The shares were acquired at an average cost of $26.33 per share, with a total value of $39,495.00. Following the completion of the acquisition, the senior vice president now owns 18,004 shares of the company’s stock, valued at $474,045.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Wayne Shortridge sold 5,000 shares of Sanmina stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $27.01, for a total transaction of $135,050.00. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp lifted its stake in shares of Sanmina by 3.3% during the second quarter. Stifel Financial Corp now owns 7,658 shares of the electronics maker’s stock worth $291,000 after buying an additional 246 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Sanmina by 12.6% during the second quarter. Cubist Systematic Strategies LLC now owns 8,369 shares of the electronics maker’s stock worth $319,000 after buying an additional 938 shares during the period. Alpha Windward LLC lifted its stake in shares of Sanmina by 13.2% during the fourth quarter. Alpha Windward LLC now owns 14,940 shares of the electronics maker’s stock worth $493,000 after buying an additional 1,740 shares during the period. Rothschild Asset Management Inc. lifted its stake in shares of Sanmina by 0.9% during the third quarter. Rothschild Asset Management Inc. now owns 204,962 shares of the electronics maker’s stock worth $7,614,000 after buying an additional 1,760 shares during the period. Finally, Personal Capital Advisors Corp lifted its stake in shares of Sanmina by 2.8% during the third quarter. Personal Capital Advisors Corp now owns 73,803 shares of the electronics maker’s stock worth $2,742,000 after buying an additional 1,992 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sanmina (NASDAQ SANM) traded down $0.35 during mid-day trading on Friday, reaching $26.60. 516,800 shares of the company traded hands, compared to its average volume of 1,109,018. The stock has a market capitalization of $1,895.15, a price-to-earnings ratio of -28.00, a price-to-earnings-growth ratio of 1.29 and a beta of 0.70. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.26. Sanmina has a 12 month low of $24.60 and a 12 month high of $42.95.
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Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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