Sanmina (NASDAQ:SANM) Issues Earnings Results

Sanmina (NASDAQ:SANM) posted its quarterly earnings data on Monday. The electronics maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.21, RTT News reports. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the business earned $1.37 EPS. The company’s quarterly revenue was down 20.9% compared to the same quarter last year. Sanmina updated its Q3 guidance to $1.22-1.32 EPS and 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. The stock has a market capitalization of $3.46 billion, a P/E ratio of 14.40, a PEG ratio of 0.90 and a beta of 1.01. The stock’s fifty day moving average is $61.36 and its 200 day moving average is $55.48. Sanmina has a 52 week low of $43.40 and a 52 week high of $69.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 2.00.

Insider Buying and Selling

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the firm’s stock in a transaction dated 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 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 SEC, which is available through this link. 3.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SANM has been the subject of several analyst reports. Craig Hallum reiterated a “hold” rating and issued a $62.00 price objective on shares of Sanmina in a research note on Tuesday. Fox Advisors initiated coverage on shares of Sanmina in a research report on Wednesday, March 6th. They issued 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.