Sanmina Corporation (SANM) Updates Q4 Earnings Guidance

Sanmina Corporation (NASDAQ:SANM) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $0.73-0.79 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.79. The company issued revenue guidance of $1.725-1.775 billion, compared to the consensus revenue estimate of $1.78 billion.

Several brokerages have recently commented on SANM. Zacks Investment Research downgraded Sanmina Corporation from a hold rating to a strong sell rating in a research note on Friday, July 28th. ValuEngine raised Sanmina Corporation from a hold rating to a buy rating in a research report on Thursday, July 27th. Needham & Company LLC reaffirmed a buy rating and set a $45.00 price target on shares of Sanmina Corporation in a research report on Tuesday, July 25th. Royal Bank Of Canada decreased their price target on Sanmina Corporation from $42.00 to $40.00 and set a sector perform rating for the company in a research report on Tuesday, July 25th. Finally, Bank of America Corporation reaffirmed a buy rating and set a $48.00 price target on shares of Sanmina Corporation in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Sanmina Corporation has a consensus rating of Hold and an average target price of $42.80.

Shares of Sanmina Corporation (NASDAQ:SANM) opened at 35.20 on Friday. Sanmina Corporation has a 12 month low of $26.00 and a 12 month high of $42.95. The company’s 50 day moving average price is $37.82 and its 200-day moving average price is $38.53. The stock has a market capitalization of $2.65 billion, a P/E ratio of 12.86 and a beta of 0.78.

Sanmina Corporation (NASDAQ:SANM) last announced its quarterly earnings data on Monday, July 24th. The electronics maker reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by $0.01. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. Sanmina Corporation’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Equities analysts predict that Sanmina Corporation will post $3.01 earnings per share for the current year.

In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $37.97, for a total transaction of $379,700.00. Following the completion of the sale, the vice president now directly owns 210,000 shares in the company, valued at approximately $7,973,700. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 30,000 shares of company stock valued at $1,133,200. Company insiders own 4.96% of the company’s stock.

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About Sanmina Corporation

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

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