Sanmina (NASDAQ:SANM) Posts Earnings Results, Beats Expectations By $0.13 EPS

Sanmina (NASDAQ:SANMGet Rating) announced its quarterly earnings results on Monday. The electronics maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.13, MarketWatch Earnings reports. Sanmina had a net margin of 4.14% and a return on equity of 12.80%. During the same quarter in the prior year, the firm posted $0.87 EPS. Sanmina updated its Q3 guidance to $1.05-1.15 EPS.

NASDAQ SANM opened at $40.96 on Tuesday. Sanmina has a 12 month low of $35.06 and a 12 month high of $43.63. The company has a market cap of $2.60 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The business’s 50 day moving average price is $40.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.14 and a current ratio of 1.74.

In other Sanmina news, EVP Alan Mcwilliams Reid sold 9,039 shares of the firm’s stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $39.11, for a total transaction of $353,515.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Brent Billinger sold 3,831 shares of the firm’s stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $40.23, for a total transaction of $154,121.13. The disclosure for this sale can be found here. 3.38% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Sanmina by 2.0% during the fourth quarter. BlackRock Inc. now owns 10,179,962 shares of the electronics maker’s stock valued at $422,062,000 after buying an additional 197,253 shares during the last quarter. Morgan Stanley raised its position in shares of Sanmina by 36.8% during the second quarter. Morgan Stanley now owns 591,728 shares of the electronics maker’s stock valued at $23,053,000 after buying an additional 159,047 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Sanmina by 83.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 242,588 shares of the electronics maker’s stock valued at $10,057,000 after buying an additional 110,235 shares during the last quarter. Legal & General Group Plc raised its position in shares of Sanmina by 2.1% during the fourth quarter. Legal & General Group Plc now owns 185,967 shares of the electronics maker’s stock valued at $7,711,000 after buying an additional 3,783 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Sanmina by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 90,744 shares of the electronics maker’s stock valued at $3,762,000 after buying an additional 1,645 shares during the last quarter. Hedge funds and other institutional investors own 92.28% of the company’s stock.

SANM has been the topic of a number of research reports. Zacks Investment Research raised shares of Sanmina from a “sell” rating to a “hold” rating in a report on Wednesday, April 6th. StockNews.com raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $51.25.

About Sanmina (Get Rating)

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.

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Earnings History for Sanmina (NASDAQ:SANM)

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