Sanmina Corporation (NASDAQ:SANM) issued an update on its first quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.68-0.74 for the period, compared to the Thomson Reuters consensus estimate of $0.79. The company issued revenue guidance of $1.75-1.8 billion, compared to the consensus revenue estimate of $1.77 billion.

Sanmina Corporation (SANM) traded down 0.64% during midday trading on Monday, reaching $38.80. The company’s stock had a trading volume of 543,495 shares. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 14.17 and a beta of 0.79. Sanmina Corporation has a 1-year low of $26.95 and a 1-year high of $42.95. The company has a 50 day moving average price of $37.92 and a 200 day moving average price of $37.71.

Sanmina Corporation (NASDAQ:SANM) last posted its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.12). Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business earned $0.72 EPS. Sanmina Corporation’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that Sanmina Corporation will post $3.01 EPS for the current year.

Sanmina Corporation announced that its board has initiated a stock repurchase program on Monday, September 18th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the electronics maker to buy up to 77% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several brokerages recently weighed in on SANM. Zacks Investment Research raised Sanmina Corporation from a sell rating to a hold rating in a research report on Tuesday, August 29th. ValuEngine raised Sanmina Corporation from a hold rating to a buy rating in a research report on Thursday, July 27th. Royal Bank Of Canada cut their target price on Sanmina Corporation from $42.00 to $40.00 and set a sector perform rating on the stock in a research report on Tuesday, July 25th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $45.00 target price on shares of Sanmina Corporation in a research report on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Sanmina Corporation has an average rating of Buy and an average price target of $43.25.

In related news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $36.95, for a total value of $369,500.00. Following the transaction, the vice president now directly owns 190,000 shares of the company’s stock, valued at approximately $7,020,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.96% of the company’s stock.

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Sanmina Corporation Company Profile

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

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