Sanmina (NASDAQ:SANM) Releases Earnings Results, Misses Expectations By $0.03 EPS

Sanmina (NASDAQ:SANM) issued its quarterly earnings data on Monday. The electronics maker reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.03), Briefing.com reports. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 earnings per share. Sanmina updated its Q4 guidance to $1.30-$1.40 EPS and its Q4 2024 guidance to 1.300-1.400 EPS.

Sanmina Trading Up 0.8 %

Shares of Sanmina stock traded up $0.63 during trading on Monday, hitting $74.96. The stock had a trading volume of 462,951 shares, compared to its average volume of 429,125. Sanmina has a 1 year low of $43.40 and a 1 year high of $76.56. The stock has a 50 day simple moving average of $68.06 and a 200 day simple moving average of $62.87. The company has a quick ratio of 1.25, a current ratio of 2.00 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.18 billion, a PE ratio of 17.72, a P/E/G ratio of 1.67 and a beta of 0.92.

Insider Activity at Sanmina

In other Sanmina news, EVP Alan Mcwilliams Reid sold 3,528 shares of Sanmina stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total transaction of $230,837.04. Following the transaction, the executive vice president now owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Sanmina news, EVP Alan Mcwilliams Reid sold 3,528 shares of Sanmina stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total transaction of $230,837.04. Following the completion of the sale, the executive vice president now owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eugene A. Delaney sold 7,181 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total transaction of $466,118.71. Following the transaction, the director now owns 100,887 shares in the company, valued at $6,548,575.17. The disclosure for this sale can be found here. 3.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SANM has been the topic of a number of recent analyst reports. Craig Hallum restated a “hold” rating and set a $62.00 price target on shares of Sanmina in a research report on Tuesday, April 30th. StockNews.com lowered shares of Sanmina from a “buy” rating to a “hold” rating in a research report on Friday, July 19th.

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.