Sanmina (NASDAQ:SANM) Updates Q1 2022 Earnings Guidance

Sanmina (NASDAQ:SANM) issued an update on its first quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.900-$1.000 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.010. The company issued revenue guidance of $1.60 billion-$1.70 billion, compared to the consensus revenue estimate of $1.76 billion.

SANM has been the topic of a number of recent research reports. Zacks Investment Research cut Sanmina from a hold rating to a strong sell rating in a research note on Friday, November 12th. Bank of America downgraded Sanmina from a neutral rating to an underperform rating and reduced their price objective for the stock from $46.00 to $38.00 in a research report on Tuesday, November 9th.

Shares of NASDAQ SANM traded down $0.28 during mid-day trading on Thursday, hitting $38.98. 173,474 shares of the company traded hands, compared to its average volume of 326,742. The company has a quick ratio of 1.37, a current ratio of 1.86 and a debt-to-equity ratio of 0.17. Sanmina has a 1 year low of $30.59 and a 1 year high of $43.63. The firm has a market cap of $2.51 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.86 and a beta of 1.08. The business’s 50 day moving average is $39.49.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Sunday, November 7th. The electronics maker reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.04). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Sanmina had a return on equity of 13.04% and a net margin of 3.98%. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 EPS. As a group, equities analysts expect that Sanmina will post 3.86 EPS for the current fiscal year.

In related news, SVP Brent Billinger sold 1,260 shares of Sanmina stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $40.61, for a total value of $51,168.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SANM. Janus Henderson Group PLC purchased a new position in Sanmina in the 3rd quarter worth about $253,000. Royal Bank of Canada grew its stake in Sanmina by 20.1% during the 3rd quarter. Royal Bank of Canada now owns 13,706 shares of the electronics maker’s stock valued at $528,000 after acquiring an additional 2,294 shares in the last quarter. UBS Group AG grew its stake in Sanmina by 1,708.1% during the 3rd quarter. UBS Group AG now owns 71,782 shares of the electronics maker’s stock valued at $2,767,000 after acquiring an additional 67,812 shares in the last quarter. Finally, Morgan Stanley grew its stake in Sanmina by 36.8% during the 2nd quarter. Morgan Stanley now owns 591,728 shares of the electronics maker’s stock valued at $23,053,000 after acquiring an additional 159,047 shares in the last quarter. 95.82% of the stock is currently owned by hedge funds and other institutional investors.

Sanmina Company Profile

Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It operates through the following segments: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The IMS segment consists of printed circuit board assembly and test, final system assembly and test and direct-order-fulfillment.

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