Sanmina Corporation (SANM) Issues Q1 Earnings Guidance

Sanmina Corporation (NASDAQ:SANM) updated its first quarter earnings guidance on Monday. The company provided EPS guidance of $0.68-0.74 for the period, compared to the Thomson Reuters consensus EPS 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.

A number of brokerages have recently issued reports on SANM. Zacks Investment Research cut Sanmina Corporation from a hold rating to a strong sell rating in a research note on Friday, July 28th. Royal Bank Of Canada reaffirmed a hold rating and set a $40.00 price objective on shares of Sanmina Corporation in a research note on Friday, September 1st. Needham & Company LLC reaffirmed a buy rating and set a $45.00 price objective on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Finally, ValuEngine cut Sanmina Corporation from a strong-buy rating to a buy rating in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $43.25.

Sanmina Corporation (NASDAQ:SANM) traded down 0.64% during mid-day trading on Monday, hitting $38.80. The company had a trading volume of 546,000 shares. The stock has a market capitalization of $2.92 billion, a PE ratio of 14.17 and a beta of 0.79. The stock has a 50 day moving average price of $37.92 and a 200-day moving average price of $37.71. Sanmina Corporation has a 1-year low of $26.95 and a 1-year high of $42.95.

Sanmina Corporation (NASDAQ:SANM) last posted its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts forecast that Sanmina Corporation will post $3.01 earnings per share for the current year.

Sanmina Corporation announced that its board has authorized a share buyback program on Monday, September 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the electronics maker to purchase up to 77% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $37.21, for a total value of $372,100.00. Following the sale, the vice president now directly owns 180,000 shares of the company’s stock, valued at approximately $6,697,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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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