Sanmina (NASDAQ:SANM) Issues Q3 2024 Earnings Guidance

Sanmina (NASDAQ:SANM) issued an update on its third quarter 2024 earnings guidance on Monday morning. 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 Up 0.7 %

Shares of NASDAQ:SANM traded up $0.40 on Thursday, hitting $61.32. 43,327 shares of the company’s stock were exchanged, compared to its average volume of 498,767. 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 business’s 50 day simple moving average is $61.36 and its two-hundred day simple moving average is $55.48. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.90 and a beta of 1.01. Sanmina has a 12 month low of $43.40 and a 12 month high of $69.69.

Sanmina (NASDAQ:SANM) last announced its 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. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The firm’s revenue was down 20.9% on a year-over-year basis. Analysts anticipate that Sanmina will post 5 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at Sanmina

In other news, Director Susan A. Johnson sold 1,000 shares of the company’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 directly owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate 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.