Sanmina (NASDAQ:SANM) Issues Q3 2024 Earnings Guidance

Sanmina (NASDAQ:SANM) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 1.220-1.320 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SANM shares. 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 price objective on the stock. Craig Hallum reiterated a hold rating and set a $62.00 price target on shares of Sanmina in a report on Tuesday.

Sanmina Price Performance

Shares of SANM traded down $2.78 during midday trading on Tuesday, reaching $61.22. The stock had a trading volume of 397,153 shares, compared to its average volume of 493,753. The company’s 50-day moving average is $61.30 and its 200 day moving average is $55.38. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04. Sanmina has a 12-month low of $43.40 and a 12-month high of $69.69. 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 released its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The business’s quarterly revenue was down 20.9% compared to the same quarter last year. On average, equities analysts predict that Sanmina will post 5 EPS for the current fiscal year.

Insider Activity 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 shares were sold at an average price of $60.64, for a total value of $60,640.00. Following the transaction, the director now owns 7,811 shares of the company’s stock, valued at $473,659.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.09% of the stock is owned by 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.