Sanmina (NASDAQ:SANM) Announces Quarterly Earnings Results

Sanmina (NASDAQ:SANM) posted its quarterly earnings results on Monday. The electronics maker reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03), Briefing.com reports. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period last year, the company earned $1.37 EPS. 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

NASDAQ SANM opened at $75.33 on Thursday. The firm’s fifty day moving average price is $68.50 and its two-hundred day moving average price is $63.29. The stock has a market cap of $4.20 billion, a PE ratio of 17.81, a PEG ratio of 1.66 and a beta of 0.92. Sanmina has a fifty-two week low of $43.40 and a fifty-two week high of $76.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 2.03.

Insiders Place Their Bets

In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of Sanmina stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total transaction of $230,837.04. Following the transaction, the executive vice president now owns 37,651 shares in the company, valued at $2,463,504.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Alan Mcwilliams Reid sold 3,528 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total value of $230,837.04. Following the transaction, the executive vice president now owns 37,651 shares in the company, valued at $2,463,504.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eugene A. Delaney sold 7,181 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total transaction of $466,118.71. Following the completion of the transaction, the director now owns 100,887 shares in the company, valued at approximately $6,548,575.17. The disclosure for this sale can be found here. Insiders own 3.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. StockNews.com cut shares of Sanmina from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Craig Hallum reiterated a “hold” rating and set a $62.00 target price on shares of Sanmina in a report on Tuesday, April 30th.

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.