Sanmina (NASDAQ:SANM) Releases Earnings Results

Sanmina (NASDAQ:SANM) issued its quarterly earnings data on Monday. The electronics maker reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03), Briefing.com reports. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. Sanmina had a return on equity of 10.83% and a net margin of 2.93%. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 EPS. Sanmina updated its Q4 guidance to $1.30-$1.40 EPS and its Q4 2024 guidance to 1.300-1.400 EPS.

Sanmina Stock Up 2.3 %

Shares of Sanmina stock opened at $75.24 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 2.00 and a debt-to-equity ratio of 0.13. The firm has a market cap of $4.20 billion, a P/E ratio of 17.39, a P/E/G ratio of 1.69 and a beta of 0.92. Sanmina has a fifty-two week low of $43.40 and a fifty-two week high of $76.56. The business has a 50-day moving average price of $68.35 and a 200 day moving average price of $63.21.

Wall Street Analysts Forecast Growth

SANM has been the topic of several recent analyst reports. StockNews.com cut Sanmina from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Craig Hallum reiterated a “hold” rating and issued a $62.00 price target on shares of Sanmina in a research note on Tuesday, April 30th.

Insider Activity at Sanmina

In related news, EVP Alan Mcwilliams Reid sold 3,528 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total value of $230,837.04. Following the completion of the sale, the executive vice president now directly owns 37,651 shares of the company’s stock, valued at $2,463,504.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Eugene A. Delaney sold 7,181 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $64.91, for a total value of $466,118.71. Following the completion of the sale, the director now directly owns 100,887 shares of the company’s stock, valued at $6,548,575.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alan Mcwilliams Reid sold 3,528 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total value of $230,837.04. Following the completion of the sale, the executive vice president now directly owns 37,651 shares of the company’s stock, valued at $2,463,504.93. The disclosure for this sale can be found here. 3.09% of the stock is 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.