Sanmina Co. (NASDAQ:SANM) Expected to Post FY2024 Earnings of $4.24 Per Share

Sanmina Co. (NASDAQ:SANM) – Stock analysts at Sidoti Csr reduced their FY2024 earnings per share (EPS) estimates for Sanmina in a report issued on Tuesday, July 30th. Sidoti Csr analyst A. Soderstrom now expects that the electronics maker will earn $4.24 per share for the year, down from their previous forecast of $4.63. The consensus estimate for Sanmina’s current full-year earnings is $4.63 per share. Sidoti Csr also issued estimates for Sanmina’s Q4 2024 earnings at $1.12 EPS, Q1 2025 earnings at $1.18 EPS, Q2 2025 earnings at $1.22 EPS, Q3 2025 earnings at $1.30 EPS, Q4 2025 earnings at $1.37 EPS and FY2025 earnings at $5.07 EPS.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The firm’s revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 EPS.

Several other analysts also recently weighed in on SANM. Craig Hallum restated a “hold” rating and set a $62.00 target price on shares of Sanmina in a research note on Tuesday, April 30th. StockNews.com downgraded Sanmina from a “buy” rating to a “hold” rating in a report on Friday, July 19th.

Sanmina Price Performance

SANM opened at $72.71 on Friday. Sanmina has a twelve month low of $43.40 and a twelve month high of $76.84. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.88 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. The company has a fifty day simple moving average of $68.62 and a 200 day simple moving average of $63.36.

Institutional Trading of Sanmina

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Sanmina by 108.4% in the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 257 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Sanmina in the 4th quarter worth approximately $64,000. Delta Asset Management LLC TN acquired a new position in Sanmina during the fourth quarter worth about $85,000. Innealta Capital LLC acquired a new stake in Sanmina in the 2nd quarter valued at about $116,000. Finally, Quest Partners LLC bought a new position in shares of Sanmina during the 4th quarter valued at about $126,000. 92.71% of the stock is currently owned by institutional investors.

Insider Transactions at Sanmina

In other news, Director Eugene A. Delaney sold 7,181 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the transaction, the director now directly owns 100,887 shares in the company, valued at approximately $6,548,575.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Eugene A. Delaney sold 7,181 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alan Mcwilliams Reid sold 3,528 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,463,504.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,397 shares of company stock worth $1,347,079. 3.09% of the stock is currently owned by corporate 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.