Sanmina (NASDAQ:SANM – Get Free Report) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $1.22-1.32 for the period, compared to the consensus EPS estimate of $1.36. The company issued revenue guidance of $1.80-1.90 billion, compared to the consensus revenue estimate of $1.97 billion. Sanmina also updated its Q3 2024 guidance to 1.220-1.320 EPS.
Wall Street Analyst Weigh In
Separately, Fox Advisors initiated coverage on Sanmina in a research report on Wednesday, March 6th. They set an overweight rating and a $80.00 target price on the stock.
View Our Latest Stock Analysis on SANM
Sanmina Stock Up 1.6 %
Sanmina (NASDAQ:SANM – Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.15. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business posted $1.37 EPS. The firm’s quarterly revenue was down 20.9% on a year-over-year basis. On average, analysts predict that Sanmina will post 5 earnings per share for the current fiscal year.
Insider Activity at Sanmina
In related news, Director Susan A. Johnson sold 1,000 shares of the company’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 transaction, the director now directly owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.
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