Sanmina (NASDAQ:SANM) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Sanmina (NASDAQ:SANMGet Rating) released its quarterly earnings results on Monday. The electronics maker reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 company earned $0.87 earnings per share. Sanmina updated its Q3 guidance to $1.05-1.15 EPS.

Shares of NASDAQ SANM opened at $40.96 on Tuesday. Sanmina has a twelve month low of $35.06 and a twelve month high of $43.63. The business’s fifty day moving average price is $40.19. The company has a market capitalization of $2.60 billion, a P/E ratio of 9.82, a PEG ratio of 0.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.74 and a quick ratio of 1.14.

A number of equities analysts recently weighed in on SANM shares. StockNews.com raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 28th. Zacks Investment Research raised shares of Sanmina from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $51.25.

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

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in Sanmina by 83.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 242,588 shares of the electronics maker’s stock worth $10,057,000 after purchasing an additional 110,235 shares during the period. Legal & General Group Plc grew its holdings 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. California State Teachers Retirement System grew its holdings 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. Sei Investments Co. grew its holdings in shares of Sanmina by 83.5% during the fourth quarter. Sei Investments Co. now owns 75,348 shares of the electronics maker’s stock valued at $3,136,000 after buying an additional 34,287 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Sanmina by 136.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 68,382 shares of the electronics maker’s stock valued at $2,835,000 after buying an additional 39,489 shares during the last quarter. Institutional investors and hedge funds own 92.28% of the company’s stock.

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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