Sanmina (NASDAQ:SANM) Announces Earnings Results

Sanmina (NASDAQ:SANM) released its quarterly earnings data on Monday. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03), Briefing.com reports. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $1.37 earnings per share. The company’s revenue was down 16.6% compared to the same quarter last year. Sanmina updated its Q4 guidance to $1.30-$1.40 EPS and its Q4 2024 guidance to 1.300-1.400 EPS.

Sanmina Stock Performance

SANM stock traded down $2.51 on Thursday, hitting $72.82. The company’s stock had a trading volume of 238,820 shares, compared to its average volume of 431,355. The firm has a 50 day moving average of $68.50 and a two-hundred day moving average of $63.29. Sanmina has a 1 year low of $43.40 and a 1 year high of $76.84. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92. The company has a current ratio of 2.03, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SANM shares. StockNews.com lowered shares of Sanmina from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Craig Hallum reaffirmed a “hold” rating and issued a $62.00 target price on shares of Sanmina in a research report on Tuesday, April 30th.

Insider Buying and Selling

In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Sanmina news, EVP Alan Mcwilliams Reid sold 3,528 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total transaction 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 approximately $2,463,504.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eugene A. Delaney sold 7,181 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $64.91, for a total value of $466,118.71. Following the sale, the director now owns 100,887 shares of the company’s stock, valued at approximately $6,548,575.17. The disclosure for this sale can be found here. 3.09% of the stock is owned by company 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.