Sanmina (NASDAQ:SANM) Releases Q3 2024 Earnings Guidance

Sanmina (NASDAQ:SANM) updated its third quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 1.220-1.320 for the period, compared to the consensus EPS estimate of 1.320. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $2.0 billion. Sanmina also updated its Q3 guidance to $1.22-1.32 EPS.

Sanmina Stock Up 1.6 %

Shares of Sanmina stock traded up $1.03 during trading hours on Monday, hitting $64.00. 606,063 shares of the company’s stock traded hands, compared to its average volume of 495,152. The company has a quick ratio of 1.23, a current ratio of 1.99 and a debt-to-equity ratio of 0.14. Sanmina has a twelve month low of $43.40 and a twelve month high of $69.69. The stock has a 50 day simple moving average of $61.22 and a 200-day simple moving average of $55.31. The company has a market cap of $3.64 billion, a PE ratio of 13.74, a PEG ratio of 0.93 and a beta of 1.04.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.15. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. The company’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 EPS. Equities research analysts anticipate that Sanmina will post 5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Fox Advisors assumed coverage on Sanmina in a report on Wednesday, March 6th. They set an overweight rating and a $80.00 price target on the stock.

Insider Buying and Selling

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.64, for a total transaction of $60,640.00. Following the sale, the director now owns 7,811 shares in the company, valued at approximately $473,659.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.09% of the company’s stock.

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.