FY2024 Earnings Forecast for Sanmina Issued By Sidoti Csr

Sanmina Co. (NASDAQ:SANM) – Sidoti Csr decreased their FY2024 earnings per share estimates for shares of Sanmina in a research note issued to investors on Wednesday, October 30th. Sidoti Csr analyst A. Soderstrom now expects that the electronics maker will earn $4.19 per share for the year, down from their prior estimate 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.

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

Sanmina Stock Performance

NASDAQ:SANM opened at $70.10 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.27 and a current ratio of 2.03. The stock has a market capitalization of $3.83 billion, a PE ratio of 18.16, a P/E/G ratio of 1.54 and a beta of 0.89. Sanmina has a fifty-two week low of $43.40 and a fifty-two week high of $76.84. The company has a fifty day moving average of $67.63 and a two-hundred day moving average of $67.15.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Sanmina by 108.4% during the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 257 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Sanmina by 24.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after acquiring an additional 164 shares during the last quarter. Innealta Capital LLC acquired a new position in Sanmina in the second quarter valued at approximately $116,000. CWM LLC grew its position in Sanmina by 40.5% in the third quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock worth $122,000 after acquiring an additional 513 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Sanmina by 16.3% in the third quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker’s stock valued at $146,000 after purchasing an additional 299 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Insider Activity at Sanmina

In other news, EVP Alan Mcwilliams Reid sold 8,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total transaction of $585,225.00. Following the completion of the sale, the executive vice president now owns 26,679 shares of the company’s stock, valued at $1,836,849.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Krish A. Prabhu sold 4,803 shares of Sanmina stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 in the company, valued at approximately $1,291,596.74. This trade 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. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total value of $585,225.00. Following the completion of the sale, the executive vice president now owns 26,679 shares of the company’s stock, valued at approximately $1,836,849.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,632 shares of company stock valued at $6,644,760. 3.09% of the stock is owned by insiders.

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.