Sanmina (NASDAQ:SANM) Issues Earnings Results, Beats Expectations By $0.21 EPS

Sanmina (NASDAQ:SANM - Get Free Report) posted its quarterly earnings results on Monday. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.21, RTT News reports. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. The company's quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 earnings per share. Sanmina updated its Q3 guidance to $1.22-1.32 EPS and its Q3 2024 guidance to 1.220-1.320 EPS.

Sanmina Stock Performance

NASDAQ:SANM opened at $64.00 on Tuesday. The stock has a market capitalization of $3.64 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14. Sanmina has a 1 year low of $43.40 and a 1 year high of $69.69. The firm has a 50 day moving average of $61.30 and a 200-day moving average of $55.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SANM. Craig Hallum reissued a "hold" rating and issued a $62.00 target price on shares of Sanmina in a report on Tuesday. Fox Advisors started coverage on Sanmina in a research note on Wednesday, March 6th. They set an "overweight" rating and a $80.00 price objective for the company.

Insider Buying and Selling

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of Sanmina stock in a transaction on Friday, February 16th. The stock was sold at an average price of $60.64, for a total value of $60,640.00. Following the completion of the transaction, 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 is available at the SEC website. 3.09% of the stock is owned by corporate insiders.

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.