Zacks: Analysts Expect Sanmina Corp (NASDAQ:SANM) Will Post Earnings of $0.74 Per Share

Analysts expect Sanmina Corp (NASDAQ:SANM) to announce earnings per share of $0.74 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Sanmina’s earnings. Sanmina posted earnings per share of $0.91 in the same quarter last year, which would suggest a negative year-over-year growth rate of 18.7%. The business is expected to issue its next quarterly earnings report on Monday, May 4th.

On average, analysts expect that Sanmina will report full-year earnings of $3.15 per share for the current year. For the next year, analysts forecast that the business will post earnings of $3.64 per share. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Sanmina.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, January 27th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.24. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business posted $0.83 EPS. The company’s revenue for the quarter was down 15.9% on a year-over-year basis.

Several equities research analysts recently weighed in on the company. Citigroup raised their price objective on Sanmina from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Zacks Investment Research raised Sanmina from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a report on Thursday, January 30th. BidaskClub downgraded Sanmina from a “hold” rating to a “sell” rating in a report on Saturday, February 1st. Finally, TheStreet downgraded Sanmina from a “b” rating to a “c+” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $36.50.

Shares of NASDAQ SANM traded down $0.99 during mid-day trading on Friday, hitting $30.32. 298,702 shares of the stock traded hands. Sanmina has a twelve month low of $26.10 and a twelve month high of $34.96. The firm has a 50 day simple moving average of $33.22 and a two-hundred day simple moving average of $31.85.

In other Sanmina news, EVP Alan Mcwilliams Reid sold 8,503 shares of Sanmina stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $32.26, for a total transaction of $274,306.78. Following the transaction, the executive vice president now directly owns 37,195 shares of the company’s stock, valued at approximately $1,199,910.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dennis Young sold 30,933 shares of Sanmina stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $32.35, for a total value of $1,000,682.55. Following the transaction, the vice president now directly owns 27,157 shares in the company, valued at $878,528.95. The disclosure for this sale can be found here. 3.73% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in Sanmina by 4.4% in the 2nd quarter. BlackRock Inc. now owns 11,043,399 shares of the electronics maker’s stock valued at $334,393,000 after buying an additional 467,702 shares in the last quarter. Earnest Partners LLC increased its position in Sanmina by 5.5% in the 4th quarter. Earnest Partners LLC now owns 3,215,503 shares of the electronics maker’s stock valued at $110,099,000 after buying an additional 168,332 shares in the last quarter. State Street Corp increased its position in Sanmina by 4.1% in the 4th quarter. State Street Corp now owns 2,141,280 shares of the electronics maker’s stock valued at $73,317,000 after buying an additional 83,899 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Sanmina by 38.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 983,418 shares of the electronics maker’s stock valued at $33,673,000 after buying an additional 275,067 shares in the last quarter. Finally, Sadoff Investment Management LLC increased its position in Sanmina by 0.6% in the 4th quarter. Sadoff Investment Management LLC now owns 925,737 shares of the electronics maker’s stock valued at $31,697,000 after buying an additional 5,950 shares in the last quarter. 92.18% of the stock is currently owned by institutional investors.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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