Sanmina (NASDAQ:SANM) Issues Earnings Results, Beats Estimates By $0.21 EPS

Sanmina (NASDAQ:SANM) released its quarterly earnings data on Monday. The electronics maker reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.21, RTT News reports. The firm 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%. The company’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 EPS. Sanmina updated its Q3 guidance to $1.22-1.32 EPS and its Q3 2024 guidance to 1.220-1.320 EPS.

Sanmina Trading Up 0.4 %

Shares of NASDAQ:SANM opened at $60.92 on Thursday. The company has a current ratio of 2.00, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.46 billion, a PE ratio of 14.40, a P/E/G ratio of 0.90 and a beta of 1.01. Sanmina has a 1 year low of $43.40 and a 1 year high of $69.69. The firm has a fifty day moving average price of $61.36 and a 200 day moving average price of $55.48.

Insider Buying and Selling at Sanmina

In other news, Director Susan A. Johnson sold 1,000 shares of the company’s stock in a transaction dated 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 sale, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 3.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SANM. Craig Hallum reiterated a “hold” rating and set a $62.00 price objective on shares of Sanmina in a report on Tuesday. Fox Advisors started coverage on Sanmina in a report on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price target for the company.

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.