Sanmina (NASDAQ:SANM) Releases Q3 Earnings Guidance

Sanmina (NASDAQ:SANM) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $1.22-1.32 for the period, compared to the consensus EPS estimate of $1.36. The company issued revenue guidance of $1.80-1.90 billion, compared to the consensus revenue estimate of $1.97 billion.

Sanmina Trading Up 1.6 %

Sanmina stock traded up $1.03 during mid-day trading on Monday, hitting $64.00. The stock had a trading volume of 621,467 shares, compared to its average volume of 495,143. Sanmina has a 12 month low of $43.40 and a 12 month high of $69.69. The stock has a 50-day simple moving average of $61.22 and a two-hundred day simple moving average of $55.31. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.64 billion, a PE ratio of 13.74, a P/E/G ratio of 0.93 and a beta of 1.04.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.15. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $1.37 earnings per share. Sanmina’s revenue was down 20.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Sanmina will post 5 EPS for the current year.

Analysts Set New Price Targets

Separately, Fox Advisors started coverage on Sanmina in a research report on Wednesday, March 6th. They set an overweight rating and a $80.00 price objective for the company.

Insider Activity

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

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.