Sanmina (NASDAQ:SANM) Issues Quarterly Earnings Results

Sanmina (NASDAQ:SANM) announced its quarterly earnings results on Monday. The electronics maker reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03), Briefing.com reports. Sanmina had a net margin of 2.93% and a return on equity of 10.83%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The firm’s revenue was down 16.6% on a year-over-year basis. 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 $75.24 on Wednesday. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.69 and a beta of 0.92. Sanmina has a twelve month low of $43.40 and a twelve month high of $76.56. The stock has a fifty day simple moving average of $68.35 and a 200 day simple moving average of $63.21. The company has a quick ratio of 1.25, a current ratio of 2.00 and a debt-to-equity ratio of 0.13.

Insider Activity at Sanmina

In related news, Director Eugene A. Delaney sold 7,181 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 100,887 shares in the company, valued at $6,548,575.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sanmina news, EVP Alan Mcwilliams Reid sold 3,528 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,463,504.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eugene A. Delaney sold 7,181 shares of the stock in a transaction dated 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 $6,548,575.17. The disclosure for this sale can be found here. 3.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on SANM. StockNews.com cut Sanmina from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Craig Hallum reiterated a “hold” rating and issued a $62.00 price target on shares of Sanmina in a research note on Tuesday, April 30th.

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.