Sanmina Corp (NASDAQ:SANM) Expected to Post Earnings of $0.77 Per Share

Wall Street analysts expect Sanmina Corp (NASDAQ:SANM) to report earnings per share (EPS) of $0.77 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Sanmina’s earnings. Sanmina reported earnings of $0.55 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 40%. The business is scheduled to report its next earnings report on Monday, July 29th.

On average, analysts expect that Sanmina will report full-year earnings of $3.26 per share for the current financial year. For the next fiscal year, analysts expect that the business will post earnings of $3.71 per share. Zacks’ EPS averages are an average based on a survey of analysts that cover Sanmina.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, April 29th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.17. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a net margin of 1.48% and a return on equity of 13.48%. Sanmina’s revenue was up 26.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS.

A number of research analysts have issued reports on SANM shares. BidaskClub lowered shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. TheStreet raised shares of Sanmina from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Finally, Zacks Investment Research raised shares of Sanmina from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $34.00.

In other Sanmina news, insider Jure Sola sold 300,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $33.47, for a total transaction of $10,041,000.00. Following the sale, the insider now directly owns 867,401 shares in the company, valued at approximately $29,031,911.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brent Billinger sold 2,762 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $31.44, for a total transaction of $86,837.28. Following the sale, the senior vice president now owns 22,377 shares in the company, valued at $703,532.88. The disclosure for this sale can be found here. Insiders have sold a total of 312,607 shares of company stock valued at $10,457,251 over the last three months. 5.55% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Foundry Partners LLC raised its position in shares of Sanmina by 9.0% during the 1st quarter. Foundry Partners LLC now owns 400,379 shares of the electronics maker’s stock worth $11,551,000 after buying an additional 32,951 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Sanmina by 8.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 43,432 shares of the electronics maker’s stock worth $1,045,000 after buying an additional 3,381 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Sanmina by 1.0% during the 1st quarter. Victory Capital Management Inc. now owns 722,512 shares of the electronics maker’s stock worth $20,844,000 after buying an additional 6,927 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sanmina during the 1st quarter worth about $600,000. Finally, Prudential Financial Inc. raised its position in shares of Sanmina by 56.8% during the 4th quarter. Prudential Financial Inc. now owns 561,898 shares of the electronics maker’s stock worth $13,520,000 after buying an additional 203,486 shares in the last quarter. Institutional investors own 92.72% of the company’s stock.

Sanmina stock opened at $30.28 on Wednesday. The firm’s 50-day moving average price is $29.06. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.82 and a beta of 1.28. Sanmina has a 52-week low of $22.30 and a 52-week high of $34.71.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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