Q2 2024 EPS Estimates for Sanmina Co. Increased by Sidoti Csr (NASDAQ:SANM)

Sanmina Co. (NASDAQ:SANM) – Equities researchers at Sidoti Csr lifted their Q2 2024 earnings per share (EPS) estimates for shares of Sanmina in a report issued on Wednesday, April 24th. Sidoti Csr analyst A. Soderstrom now expects that the electronics maker will earn $1.09 per share for the quarter, up from their prior forecast of $0.88. The consensus estimate for Sanmina’s current full-year earnings is $5.00 per share. Sidoti Csr also issued estimates for Sanmina’s Q3 2024 earnings at $1.31 EPS, Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $5.00 EPS, Q1 2025 earnings at $1.52 EPS, Q2 2025 earnings at $1.51 EPS, Q3 2025 earnings at $1.62 EPS, Q4 2025 earnings at $1.63 EPS and FY2025 earnings at $6.29 EPS.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, January 29th. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.87 billion. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The business’s revenue was down 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.49 EPS.

Separately, Fox Advisors began coverage on Sanmina in a research note on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price objective for the company.

Sanmina Stock Performance

SANM stock opened at $62.97 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.58 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.93 and a beta of 1.04. Sanmina has a 12-month low of $43.40 and a 12-month high of $69.69. The stock’s 50 day simple moving average is $61.22 and its 200 day simple moving average is $55.31.

Insider Activity

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

Institutional Investors Weigh In On Sanmina

Several hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Sanmina by 2.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,411 shares of the electronics maker’s stock worth $464,000 after purchasing an additional 197 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Sanmina by 1.9% in the 4th quarter. SummerHaven Investment Management LLC now owns 11,473 shares of the electronics maker’s stock worth $589,000 after acquiring an additional 212 shares during the period. Headlands Technologies LLC lifted its position in shares of Sanmina by 5.1% in the 4th quarter. Headlands Technologies LLC now owns 4,511 shares of the electronics maker’s stock worth $232,000 after acquiring an additional 217 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Sanmina by 5.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,533 shares of the electronics maker’s stock worth $233,000 after buying an additional 252 shares during the period. Finally, Islay Capital Management LLC lifted its position in shares of Sanmina by 2.0% during the 3rd quarter. Islay Capital Management LLC now owns 13,833 shares of the electronics maker’s stock worth $751,000 after buying an additional 268 shares during the period. 92.71% of the stock is owned by hedge funds and other institutional investors.

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.