Sanmina (NASDAQ:SANM) Updates Q3 Earnings Guidance

Sanmina (NASDAQ:SANM) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $1.22-1.32 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Fox Advisors began coverage on shares of Sanmina in a research note on Wednesday, March 6th. They issued an overweight rating and a $80.00 target price on the stock. Craig Hallum reaffirmed a hold rating and issued a $62.00 target price on shares of Sanmina in a research report on Tuesday.

Sanmina Stock Performance

NASDAQ:SANM traded down $2.56 during trading hours on Tuesday, hitting $61.44. 345,922 shares of the company traded hands, compared to its average volume of 492,860. Sanmina has a twelve month low of $43.40 and a twelve month high of $69.69. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.04. The firm has a 50-day moving average of $61.30 and a 200 day moving average of $55.38. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.21. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. The company’s revenue was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS. On average, analysts forecast that Sanmina will post 5 EPS for the current year.

Insider Activity

In other news, Director Susan A. Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $60.64, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.09% of the stock is currently owned by company insiders.

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.