Equities Analysts Issue Forecasts for Sanmina Co.’s Q3 2024 Earnings (NASDAQ:SANM)

Sanmina Co. (NASDAQ:SANM) – Research analysts at Sidoti Csr lowered their Q3 2024 earnings estimates for Sanmina in a report released on Tuesday, April 30th. Sidoti Csr analyst A. Soderstrom now anticipates that the electronics maker will post earnings of $1.10 per share for the quarter, down from their previous forecast of $1.31. The consensus estimate for Sanmina’s current full-year earnings is $4.86 per share. Sidoti Csr also issued estimates for Sanmina’s FY2024 earnings at $4.86 EPS.

A number of other research firms have also recently commented on SANM. Fox Advisors assumed coverage on Sanmina in a report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price target on the stock. Craig Hallum reissued a “hold” rating and set a $62.00 price objective on shares of Sanmina in a report on Tuesday, April 30th.

Sanmina Trading Up 0.4 %

Shares of NASDAQ:SANM opened at $61.76 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 2.00. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.94 and a beta of 1.01. The stock’s 50-day simple moving average is $61.38 and its two-hundred day simple moving average is $55.60. Sanmina has a 52-week low of $43.40 and a 52-week high of $69.69.

Sanmina (NASDAQ:SANM) last announced 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 $1.09 by $0.21. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business earned $1.37 EPS. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis.

Insiders Place Their Bets

In other news, Director Susan A. Johnson sold 1,000 shares of the business’s 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 sale, the director now owns 7,811 shares in the company, valued at approximately $473,659.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sanmina

Institutional investors have recently added to or reduced their stakes in the stock. Paulson Wealth Management Inc. acquired a new position in shares of Sanmina during the first quarter worth $215,000. Jennison Associates LLC raised its position in shares of Sanmina by 31.4% in the 1st quarter. Jennison Associates LLC now owns 33,128 shares of the electronics maker’s stock valued at $2,060,000 after purchasing an additional 7,920 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Sanmina by 26.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,627 shares of the electronics maker’s stock worth $847,000 after purchasing an additional 2,849 shares in the last quarter. BNP Paribas Financial Markets grew its position in Sanmina by 3.7% during the 1st quarter. BNP Paribas Financial Markets now owns 91,506 shares of the electronics maker’s stock worth $5,690,000 after purchasing an additional 3,299 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Sanmina by 18.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 643,251 shares of the electronics maker’s stock valued at $39,997,000 after acquiring an additional 100,865 shares during the period. Institutional investors own 92.71% 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.