Sanmina (NASDAQ:SANM) Updates Q3 2024 Earnings Guidance

Sanmina (NASDAQ:SANM) updated its third quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 1.220-1.320 for the period, compared to the consensus EPS estimate of 1.320. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $2.0 billion. Sanmina also updated its Q3 guidance to $1.22-1.32 EPS.

Sanmina Trading Down 4.3 %

Shares of NASDAQ:SANM traded down $2.78 during mid-day trading on Tuesday, hitting $61.22. The stock had a trading volume of 397,153 shares, compared to its average volume of 493,753. Sanmina has a 12-month low of $43.40 and a 12-month high of $69.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.23 and a current ratio of 1.99. The company has a market cap of $3.48 billion, a PE ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.04. The company’s 50 day moving average is $61.30 and its 200-day moving average is $55.38.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, April 29th. The electronics maker reported $1.30 EPS 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 analysts’ expectations of $1.88 billion. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. Sanmina’s revenue was down 20.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. On average, sell-side analysts predict that Sanmina will post 5 EPS for the current year.

Analyst Ratings Changes

SANM has been the subject of several research reports. Fox Advisors initiated coverage on shares of Sanmina in a report on Wednesday, March 6th. They set an overweight rating and a $80.00 price target for the company. Craig Hallum restated a hold rating and set a $62.00 price target on shares of Sanmina in a report on Tuesday.

Insider Buying and Selling at Sanmina

In related news, Director Susan A. Johnson sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $60.64, for a total transaction of $60,640.00. Following the completion of the transaction, the director now owns 7,811 shares in the company, valued at approximately $473,659.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.09% of the company’s stock.

Sanmina Company Profile

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.