Sidoti Csr Issues Pessimistic Outlook for Sanmina Earnings

Sanmina Co. (NASDAQ:SANM - Free Report) - Analysts at Sidoti Csr decreased their FY2024 EPS estimates for shares of Sanmina in a research note issued to investors on Wednesday, October 30th. Sidoti Csr analyst A. Soderstrom now anticipates that the electronics maker will post earnings per share of $4.19 for the year, down from their prior forecast 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 lowered shares of Sanmina from a "buy" rating to a "hold" rating in a research note on Wednesday.

Sanmina Stock Down 2.4 %

NASDAQ SANM traded down $1.70 during trading hours on Thursday, reaching $70.10. 340,081 shares of the company's stock traded hands, compared to its average volume of 421,466. Sanmina has a 52-week low of $43.40 and a 52-week high of $76.84. The firm has a market cap of $3.83 billion, a PE ratio of 18.16, a PEG ratio of 1.54 and a beta of 0.89. The firm has a 50-day simple moving average of $67.63 and a 200 day simple moving average of $67.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly 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). Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the business earned $1.37 earnings per share. The company's revenue was down 16.6% on a year-over-year basis.

Institutional Trading of Sanmina

A number of large investors have recently made changes to their positions in SANM. QRG Capital Management Inc. grew its position in Sanmina by 9.7% during the third quarter. QRG Capital Management Inc. now owns 5,888 shares of the electronics maker's stock valued at $403,000 after buying an additional 523 shares during the period. Farther Finance Advisors LLC grew its position in Sanmina by 16.3% during the third quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker's stock valued at $146,000 after buying an additional 299 shares during the period. New York State Common Retirement Fund grew its position in Sanmina by 1.4% during the third quarter. New York State Common Retirement Fund now owns 357,105 shares of the electronics maker's stock valued at $24,444,000 after buying an additional 4,943 shares during the period. Highland Capital Management LLC bought a new stake in Sanmina during the third quarter valued at approximately $205,000. Finally, TFG Advisers LLC grew its position in Sanmina by 5.1% during the third quarter. TFG Advisers LLC now owns 4,179 shares of the electronics maker's stock valued at $286,000 after buying an additional 203 shares during the period. 92.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sanmina

In other Sanmina news, CEO Jure Sola sold 82,328 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the completion of the sale, the chief executive officer now directly owns 1,198,594 shares in the company, valued at approximately $83,506,043.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Alan Mcwilliams Reid sold 8,500 shares of Sanmina stock in a transaction that occurred 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 directly owns 26,679 shares in the company, valued at $1,836,849.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the completion of the sale, the chief executive officer now owns 1,198,594 shares of the company's stock, valued at $83,506,043.98. This represents 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 worth $6,644,760. 3.09% of the stock is owned by corporate 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.