Sanmina (NASDAQ:SANM) Trading Down 8.2% - What's Next?

Key Points

• Sanmina shares fell 8.2% to about $198, near the analyst consensus price target of $198.33, on trading volume that was 89% below average.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating, although JPMorgan lowered its price target from $275 to $260 and maintained a neutral rating.
• Sanmina reported strong quarterly results, including EPS of $3.31 versus the $2.77 estimate and 69.7% year-over-year revenue growth to $3.46 billion. Institutional investors own 92.71% of the company’s shares.

Shares of Sanmina Corporation (NASDAQ:SANM - Get Free Report) were down 8.2% on Monday . The stock traded as low as $197.88 and last traded at $198.3890. 96,384 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 895,624 shares. The stock had previously closed at $216.00.

Analysts Set New Price Targets

SANM has been the topic of a number of recent research reports. Weiss Ratings raised shares of Sanmina from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 3rd. Zacks Research raised shares of Sanmina from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. dropped 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. Finally, Wall Street Zen raised shares of Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Sanmina has a consensus rating of "Moderate Buy" and a consensus price target of $198.33.

Sanmina Stock Performance

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 firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 0.76 and a beta of 1.60. The stock's 50 day moving average price is $200.80 and its two-hundred day moving average price is $197.00.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The electronics maker reported $3.31 EPS for the quarter, beating the consensus estimate of $2.77 by $0.54. Sanmina had a net margin of 2.41% and a return on equity of 19.08%. The firm had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter last year, the business earned $1.53 earnings per share. The business's revenue for the quarter was up 69.7% compared to the same quarter last year. 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, analysts forecast that Sanmina Corporation will post 10.41 EPS for the current year.

Hedge Funds Weigh In On Sanmina

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in Sanmina by 23,789.9% in the second quarter. California State Teachers Retirement System now owns 15,229,089 shares of the electronics maker's stock valued at $3,854,178,000 after purchasing an additional 15,165,342 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Sanmina in the second quarter valued at $1,390,702,000. Invesco Ltd. raised its stake in shares of Sanmina by 22.0% during the 4th quarter. Invesco Ltd. now owns 2,667,240 shares of the electronics maker's stock worth $400,273,000 after buying an additional 481,588 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Sanmina by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,629,023 shares of the electronics maker's stock worth $244,500,000 after buying an additional 58,529 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Sanmina by 14.6% in 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 in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Company Profile

Sanmina Corporation NASDAQ: SANM is a global provider of integrated manufacturing, engineering and supply chain services for original equipment manufacturers. The company designs, builds and supports complex electronic and mechanical products, helping customers manage product development, production, logistics and aftermarket services.

Its capabilities include printed circuit board assembly, systems integration, electromechanical manufacturing, precision machining, enclosures, optical and radio-frequency components, testing, repair and product fulfillment.

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