Sanmina (NASDAQ:SANM) Stock Price Down 6.8% - What's Next?

Key Points

• Sanmina shares fell 6.8% to about $207.68 on sharply lower-than-average volume, while its consensus analyst rating remains “Hold” with an average price target of $198.33.
• The company reported strong quarterly results, with EPS of $3.31 versus the $2.77 estimate and revenue of $3.46 billion; revenue increased 69.7% year over year.
• Institutional ownership is high at 92.71%, with major investors including BlackRock, Geode Capital, Bank of America, Vaughan Nelson Investment Management, and Norges Bank holding or adding positions.

Sanmina Corporation (NASDAQ:SANM - Get Free Report) shares fell 6.8% on Wednesday. The company traded as low as $211.43 and last traded at $207.6840. 118,647 shares were traded during trading, a decline of 86% from the average session volume of 878,303 shares. The stock had previously closed at $222.73.

Analysts Set New Price Targets

Several brokerages recently weighed in on SANM. JPMorgan Chase & Co. reduced their price objective on shares of Sanmina from $275.00 to $260.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 28th. Wall Street Zen upgraded Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Zacks Research downgraded Sanmina from a "strong-buy" rating to a "hold" rating in a research report on Monday. Finally, Weiss Ratings cut Sanmina from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, September 18th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Sanmina currently has a consensus rating of "Hold" and a consensus price target of $198.33.

Sanmina Stock Performance

The stock has a market capitalization of $11.26 billion, a P/E ratio of 37.62, a price-to-earnings-growth ratio of 0.75 and a beta of 1.60. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $201.36 and a two-hundred day moving average price of $202.85.

Sanmina (NASDAQ:SANM - Get Free Report) last released its earnings results on Monday, July 27th. The electronics maker reported $3.31 EPS for the quarter, topping the consensus estimate of $2.77 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.40 billion. Sanmina had a return on equity of 19.08% and a net margin of 2.41%.The firm's revenue was up 69.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. Sanmina has set its Q4 2026 guidance at 3.050-3.350 EPS and its FY 2026 guidance at 11.900-12.200 EPS. On average, equities analysts forecast that Sanmina Corporation will post 10.73 earnings per share for the current year.

Institutional Investors Weigh In On Sanmina

Large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Sanmina during the 2nd quarter worth about $1,390,702,000. Geode Capital Management LLC increased its position in Sanmina by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,629,023 shares of the electronics maker's stock valued at $244,500,000 after buying an additional 58,529 shares in the last quarter. Bank of America Corp DE raised its stake in Sanmina by 14.6% during the 1st quarter. Bank of America Corp DE now owns 945,382 shares of the electronics maker's stock worth $122,559,000 after buying an additional 120,164 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Sanmina by 57.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 762,365 shares of the electronics maker's stock worth $98,833,000 after buying an additional 278,465 shares during the period. Finally, Norges Bank bought a new position in Sanmina in the fourth quarter worth approximately $101,751,000. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Sanmina Company Profile

Sanmina Corporation is an integrated manufacturing solutions provider serving original equipment manufacturers in industries including communications, cloud infrastructure, industrial, medical, defense and aerospace, automotive, and consumer products. The company supports customers across the product life cycle, from design and engineering through manufacturing, testing, supply chain management, logistics, repair, and aftermarket services.

Its capabilities include printed circuit board assembly, systems integration, enclosure and mechanical manufacturing, optical and semiconductor-related technologies, and the production of complete electronic and electromechanical systems.

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