Sanmina Co. (NASDAQ:SANM) to Post Q3 2024 Earnings of $1.10 Per Share, Sidoti Csr Forecasts

Sanmina Co. (NASDAQ:SANM) – Investment analysts at Sidoti Csr lowered their Q3 2024 EPS estimates for shares of Sanmina in a research note issued on Tuesday, April 30th. Sidoti Csr analyst A. Soderstrom now expects that the electronics maker will post earnings of $1.10 per share for the quarter, down from their prior forecast of $1.31. The consensus estimate for Sanmina’s current full-year earnings is $5.00 per share. Sidoti Csr also issued estimates for Sanmina’s FY2024 earnings at $4.86 EPS.

A number of other research analysts have also recently weighed in on SANM. Fox Advisors assumed coverage on shares of Sanmina in a research note on Wednesday, March 6th. They set an “overweight” rating and a $80.00 target price on the stock. Craig Hallum restated a “hold” rating and set a $62.00 target price on shares of Sanmina in a research note on Tuesday.

Sanmina Stock Up 0.4 %

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. Sanmina has a fifty-two week low of $43.40 and a fifty-two week high of $69.69. The firm’s fifty day moving average is $61.38 and its 200 day moving average is $55.58. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.90 and a beta of 1.01.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. The company’s revenue for the quarter was down 20.9% compared to the same quarter last year.

Insiders Place Their Bets

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $60.64, for a total value of $60,640.00. Following the sale, the director now owns 7,811 shares in the company, valued at approximately $473,659.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.09% of the company’s stock.

Institutional Trading of Sanmina

Several hedge funds have recently made changes to their positions in SANM. Commonwealth Equity Services LLC raised its position in shares of Sanmina by 5.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,726 shares of the electronics maker’s stock valued at $691,000 after buying an additional 648 shares in the last quarter. Raymond James & Associates raised its position in shares of Sanmina by 0.7% during the 3rd quarter. Raymond James & Associates now owns 49,351 shares of the electronics maker’s stock valued at $2,679,000 after buying an additional 345 shares in the last quarter. GW Henssler & Associates Ltd. purchased a new stake in shares of Sanmina during the 3rd quarter valued at about $203,000. Bailard Inc. purchased a new stake in shares of Sanmina during the 3rd quarter valued at about $309,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sanmina by 9.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,037 shares of the electronics maker’s stock valued at $653,000 after buying an additional 1,077 shares in the last quarter. 92.71% of the stock is currently 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.