Brokers Set Expectations for Sanmina Co.’s Q2 2024 Earnings (NASDAQ:SANM)

Sanmina Co. (NASDAQ:SANM) – Analysts at Sidoti Csr upped their Q2 2024 earnings per share (EPS) estimates for Sanmina in a research report issued on Wednesday, April 24th. Sidoti Csr analyst A. Soderstrom now anticipates that the electronics maker will post earnings per share of $1.09 for the quarter, up from their prior estimate of $0.88. The consensus estimate for Sanmina’s current full-year earnings is $4.70 per share. Sidoti Csr also issued estimates for Sanmina’s Q3 2024 earnings at $1.31 EPS, Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $5.00 EPS, Q1 2025 earnings at $1.52 EPS, Q2 2025 earnings at $1.51 EPS, Q3 2025 earnings at $1.62 EPS, Q4 2025 earnings at $1.63 EPS and FY2025 earnings at $6.29 EPS.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, January 29th. The electronics maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the company posted $1.49 earnings per share. Sanmina’s revenue was down 20.4% compared to the same quarter last year.

Separately, Fox Advisors assumed coverage on Sanmina in a research note on Wednesday, March 6th. They set an “overweight” rating and a $80.00 target price for the company.

Sanmina Trading Up 0.4 %

Shares of NASDAQ:SANM opened at $62.97 on Friday. The company has a market capitalization of $3.58 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.99 and a quick ratio of 1.23. The business’s 50 day simple moving average is $61.22 and its 200 day simple moving average is $55.30. Sanmina has a 1 year low of $43.40 and a 1 year high of $69.69.

Insider Buying and Selling at Sanmina

In related news, Director Susan A. Johnson sold 1,000 shares of the business’s stock in a transaction 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 in the company, valued at $473,659.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SANM. SG Americas Securities LLC purchased a new stake in Sanmina in the 3rd quarter valued at about $2,158,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Sanmina during the 3rd quarter valued at $272,000. Commonwealth Equity Services LLC increased its holdings in Sanmina by 5.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,726 shares of the electronics maker’s stock worth $691,000 after acquiring an additional 648 shares during the last quarter. Raymond James & Associates raised its stake in Sanmina by 0.7% in the 3rd quarter. Raymond James & Associates now owns 49,351 shares of the electronics maker’s stock valued at $2,679,000 after acquiring an additional 345 shares during the period. Finally, GW Henssler & Associates Ltd. purchased a new stake in shares of Sanmina during the 3rd quarter valued at approximately $203,000. 92.71% of the stock is owned by institutional investors.

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.