Sanmina (NASDAQ:SANM) Posts Quarterly Earnings Results, Beats Estimates By $0.54 EPS

Sanmina (NASDAQ:SANM) released its earnings results on Monday. The electronics maker reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.54, FiscalAI reports. Sanmina had a return on equity of 16.23% and a net margin of 2.29%.The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.40 billion.

Sanmina Stock Up 0.2%

Shares of SANM traded up $0.47 during mid-day trading on Monday, reaching $208.90. The company had a trading volume of 1,226,036 shares, compared to its average volume of 942,758. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.71. The firm has a 50-day moving average price of $236.49 and a 200 day moving average price of $187.01. Sanmina has a 52 week low of $97.76 and a 52 week high of $288.68. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 44.16, a price-to-earnings-growth ratio of 0.80 and a beta of 1.56.

Insider Activity at Sanmina

In related news, CEO Jure Sola sold 118,368 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $228.84, for a total transaction of $27,087,333.12. Following the completion of the transaction, the chief executive officer owned 1,227,573 shares of the company’s stock, valued at $280,917,805.32. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David V. Hedley III sold 500 shares of Sanmina stock in a transaction on Friday, May 1st. The shares were sold at an average price of $219.52, for a total value of $109,760.00. Following the transaction, the director owned 7,376 shares of the company’s stock, valued at $1,619,179.52. The trade was a 6.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 156,509 shares of company stock worth $35,699,476 over the last quarter. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sanmina

Large investors have recently modified their holdings of the stock. Vise Technologies Inc. grew its position in Sanmina by 2.0% during the 3rd quarter. Vise Technologies Inc. now owns 3,625 shares of the electronics maker’s stock valued at $417,000 after purchasing an additional 71 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Sanmina by 7.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,751 shares of the electronics maker’s stock worth $266,000 after buying an additional 114 shares during the last quarter. Lido Advisors LLC lifted its stake in shares of Sanmina by 3.5% in the third quarter. Lido Advisors LLC now owns 4,156 shares of the electronics maker’s stock worth $478,000 after buying an additional 140 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Sanmina by 0.8% in the fourth quarter. Cetera Investment Advisers now owns 22,295 shares of the electronics maker’s stock worth $3,346,000 after buying an additional 172 shares in the last quarter. Finally, Xponance LLC grew its holdings in shares of Sanmina by 4.5% during the fourth quarter. Xponance LLC now owns 4,317 shares of the electronics maker’s stock valued at $648,000 after buying an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SANM shares. Weiss Ratings raised Sanmina from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 15th. Susquehanna initiated coverage on Sanmina in a research report on Wednesday, April 1st. They set a “neutral” rating and a $135.00 price objective for the company. Wall Street Zen cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. initiated coverage on shares of Sanmina in a research report on Monday, March 30th. They issued a “neutral” rating and a $145.00 target price on the stock. Finally, Zacks Research lowered shares of Sanmina from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sanmina presently has a consensus rating of “Hold” and a consensus price target of $160.00.

Sanmina Company Profile

Sanmina Corporation is a leading global electronics manufacturing services (EMS) provider specializing in the design, production and end-to-end supply chain solutions for complex electronic products. Founded in 1980, the company has built a reputation for delivering high-reliability manufacturing across a wide range of industries, including communications, computing, aerospace and defense, medical, automotive and industrial sectors.

Sanmina’s core offerings encompass product design and engineering support, precision PCB fabrication and assembly, system integration, testing, and final system deployment.