Sidoti Csr Issues Pessimistic Estimate for Sanmina Earnings

Sanmina Co. (NASDAQ:SANM) – Research analysts at Sidoti Csr dropped their FY2024 EPS estimates for shares of Sanmina in a research report issued on Wednesday, October 30th. Sidoti Csr analyst A. Soderstrom now expects that the electronics maker will post earnings per share of $4.19 for the year, down from their prior forecast of $4.24. The consensus estimate for Sanmina’s current full-year earnings is $4.24 per share. Sidoti Csr also issued estimates for Sanmina’s Q4 2024 earnings at $1.07 EPS.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, July 29th. The electronics maker reported $1.25 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.03). The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The firm’s revenue was down 16.6% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS.

Separately, StockNews.com downgraded Sanmina from a “buy” rating to a “hold” rating in a research note on Wednesday.

Sanmina Price Performance

Shares of NASDAQ:SANM opened at $71.80 on Thursday. Sanmina has a 52 week low of $43.40 and a 52 week high of $76.84. The company has a 50-day moving average price of $67.59 and a 200 day moving average price of $67.13. The company has a market cap of $3.92 billion, a P/E ratio of 18.60, a PEG ratio of 1.54 and a beta of 0.89. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.13.

Insider Activity at Sanmina

In other Sanmina news, Director Krish A. Prabhu sold 4,803 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total transaction of $323,674.17. Following the transaction, the director now directly owns 19,166 shares in the company, valued at approximately $1,291,596.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Alan Mcwilliams Reid sold 8,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total value of $585,225.00. Following the sale, the executive vice president now directly owns 26,679 shares in the company, valued at $1,836,849.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Krish A. Prabhu sold 4,803 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total transaction of $323,674.17. Following the transaction, the director now owns 19,166 shares of the company’s stock, valued at $1,291,596.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,632 shares of company stock worth $6,644,760 over the last 90 days. Company insiders own 3.09% of the company’s stock.

Institutional Trading of Sanmina

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Direct Indexing L.P. purchased a new stake in Sanmina in the 1st quarter valued at approximately $211,000. BNP Paribas Financial Markets increased its position in Sanmina by 3.7% during the 1st quarter. BNP Paribas Financial Markets now owns 91,506 shares of the electronics maker’s stock worth $5,690,000 after purchasing an additional 3,299 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Sanmina by 26.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,627 shares of the electronics maker’s stock worth $847,000 after purchasing an additional 2,849 shares in the last quarter. Jennison Associates LLC raised its stake in Sanmina by 31.4% in the 1st quarter. Jennison Associates LLC now owns 33,128 shares of the electronics maker’s stock valued at $2,060,000 after purchasing an additional 7,920 shares during the last quarter. Finally, Paulson Wealth Management Inc. purchased a new position in Sanmina in the 1st quarter valued at about $215,000. Hedge funds and other institutional investors own 92.71% 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.