Q3 2024 Earnings Forecast for Sanmina Co. Issued By Sidoti Csr (NASDAQ:SANM)

Sanmina Co. (NASDAQ:SANM) – Research analysts at Sidoti Csr lowered their Q3 2024 EPS estimates for Sanmina in a report released on Tuesday, April 30th. Sidoti Csr analyst A. Soderstrom now expects that the electronics maker will earn $1.10 per share for the quarter, down from their prior forecast of $1.31. The consensus estimate for Sanmina’s current full-year earnings is $5.00 per share. Sidoti Csr also issued estimates for Sanmina’s FY2024 earnings at $4.86 EPS.

SANM has been the topic of several other research reports. Craig Hallum reiterated a “hold” rating and issued a $62.00 price target on shares of Sanmina in a report on Tuesday. Fox Advisors assumed coverage on shares of Sanmina in a research note on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price objective on the stock.

Sanmina Stock Performance

SANM stock opened at $61.49 on Friday. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 0.90 and a beta of 1.01. The firm has a 50-day simple moving average of $61.37 and a two-hundred day simple moving average of $55.52. Sanmina has a one year low of $43.40 and a one year high of $69.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 2.00.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business posted $1.37 earnings per share. The business’s revenue was down 20.9% compared to the same quarter last year.

Institutional Investors Weigh In On Sanmina

Institutional investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC lifted its holdings in Sanmina by 49.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 115,653 shares of the electronics maker’s stock valued at $5,941,000 after purchasing an additional 38,286 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Sanmina by 86.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 71,294 shares of the electronics maker’s stock valued at $3,870,000 after purchasing an additional 32,998 shares in the last quarter. FMR LLC lifted its holdings in Sanmina by 498.3% in the 3rd quarter. FMR LLC now owns 489,308 shares of the electronics maker’s stock valued at $26,560,000 after purchasing an additional 407,528 shares in the last quarter. Sei Investments Co. lifted its holdings in Sanmina by 19.1% in the 3rd quarter. Sei Investments Co. now owns 256,717 shares of the electronics maker’s stock valued at $13,935,000 after purchasing an additional 41,216 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Sanmina by 18.3% in the 3rd quarter. Hsbc Holdings PLC now owns 61,689 shares of the electronics maker’s stock valued at $3,374,000 after purchasing an additional 9,545 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.

Insider Transactions at Sanmina

In related news, Director Susan A. Johnson sold 1,000 shares of Sanmina stock in a transaction on Friday, February 16th. The shares were sold at an average price of $60.64, for a total value of $60,640.00. Following the sale, the director now owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.09% 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.