Sanmina (NASDAQ:SANM) Releases Q3 Earnings Guidance

Sanmina (NASDAQ:SANM) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $1.22-1.32 for the period, compared to the consensus EPS estimate of $1.36. The company issued revenue guidance of $1.80-1.90 billion, compared to the consensus revenue estimate of $1.97 billion. Sanmina also updated its Q3 2024 guidance to 1.220-1.320 EPS.

Sanmina Trading Up 0.4 %

SANM opened at $60.92 on Thursday. The business’s 50-day simple moving average is $61.36 and its 200-day simple moving average is $55.48. The company has a market cap of $3.46 billion, a P/E ratio of 14.40, a PEG ratio of 0.90 and a beta of 1.01. Sanmina has a one year low of $43.40 and a one year high of $69.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 2.00.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.21. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.88 billion. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. The company’s revenue was down 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. As a group, equities research analysts expect that Sanmina will post 5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SANM has been the topic of several research analyst reports. Craig Hallum reaffirmed a hold rating and set a $62.00 price target on shares of Sanmina in a research report on Tuesday. Fox Advisors initiated coverage on shares of Sanmina in a research note on Wednesday, March 6th. They issued an overweight rating and a $80.00 price objective on the stock.

Insider Activity

In related news, Director Susan A. Johnson sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $60.64, for a total transaction of $60,640.00. Following the sale, the director now owns 7,811 shares of the company’s stock, valued at $473,659.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.09% of the company’s stock.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.