Sanmina (NASDAQ:SANM) Releases Q3 Earnings Guidance

Sanmina (NASDAQ:SANM) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.22-1.32 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

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

Sanmina Stock Up 1.6 %

SANM stock traded up $1.03 during midday trading on Monday, reaching $64.00. 621,467 shares of the company’s stock traded hands, compared to its average volume of 495,143. The company has a quick ratio of 1.23, a current ratio of 1.99 and a debt-to-equity ratio of 0.14. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 0.93 and a beta of 1.04. The firm’s fifty day moving average price is $61.22 and its 200-day moving average price is $55.31. Sanmina has a 52 week low of $43.40 and a 52 week high of $69.69.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.15. The firm had revenue of $1.83 billion during 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 business’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. As a group, sell-side analysts forecast that Sanmina will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Susan A. Johnson sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $60.64, for a total value of $60,640.00. Following the completion of the transaction, the director now directly owns 7,811 shares of the company’s stock, valued at $473,659.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.09% of the stock is owned by insiders.

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.