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 (EPS) guidance of $1.22-1.32 for the period, compared to the consensus 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 Stock Up 0.4 %

Shares of NASDAQ SANM opened at $60.92 on Thursday. Sanmina has a 1 year low of $43.40 and a 1 year high of $69.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.23. The firm has a market cap of $3.46 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 0.90 and a beta of 1.01. The company has a 50 day simple moving average of $61.36 and a 200 day simple moving average of $55.48.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results 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 company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. Sanmina’s revenue was down 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 earnings per share. On average, research analysts forecast that Sanmina will post 5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SANM shares. Fox Advisors started coverage on shares of Sanmina in a research report on Wednesday, March 6th. They set an overweight rating and a $80.00 target price for the company. Craig Hallum reissued a hold rating and set a $62.00 target price on shares of Sanmina in a research note on Tuesday.

Insider Activity at Sanmina

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of Sanmina stock in a transaction on Friday, February 16th. The shares were sold at an average price of $60.64, for a total transaction of $60,640.00. Following the transaction, the director now directly owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.09% of the stock is currently owned by corporate insiders.

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.