Sanmina Co. (SANM) Expected to Announce Earnings of $0.42 Per Share

Brokerages expect Sanmina Co. (NASDAQ:SANM) to report earnings of $0.42 per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Sanmina’s earnings. Sanmina reported earnings of $0.76 per share during the same quarter last year, which would indicate a negative year over year growth rate of 44.7%. The company is scheduled to report its next earnings results on Monday, April 23rd.

On average, analysts expect that Sanmina will report full-year earnings of $2.00 per share for the current fiscal year. For the next year, analysts forecast that the company will post earnings of $3.03 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Sanmina.

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Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, January 29th. The electronics maker reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Sanmina had a positive return on equity of 11.61% and a negative net margin of 0.88%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 earnings per share.

A number of analysts have issued reports on the company. Royal Bank of Canada cut their target price on Sanmina to $31.00 and set a “sector perform” rating on the stock in a research report on Monday, January 22nd. Zacks Investment Research raised Sanmina from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. BidaskClub lowered Sanmina from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Craig Hallum raised Sanmina from a “hold” rating to a “buy” rating in a research report on Monday, December 18th. Finally, ValuEngine raised Sanmina from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $37.25.

Shares of NASDAQ SANM opened at $26.20 on Monday. The company has a market capitalization of $1,866.65, a price-to-earnings ratio of 9.13, a PEG ratio of 1.27 and a beta of 0.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.95 and a current ratio of 1.60. Sanmina has a 52-week low of $24.60 and a 52-week high of $42.95.

In other news, Director Wayne Shortridge sold 5,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $27.01, for a total transaction of $135,050.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph G. Licata, Jr. sold 18,444 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $27.49, for a total value of $507,025.56. Following the sale, the director now directly owns 48,787 shares in the company, valued at approximately $1,341,154.63. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of SANM. Earnest Partners LLC increased its position in shares of Sanmina by 65.4% during the fourth quarter. Earnest Partners LLC now owns 2,877,629 shares of the electronics maker’s stock worth $94,962,000 after acquiring an additional 1,138,334 shares during the period. Donald Smith & CO. Inc. increased its position in shares of Sanmina by 47.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 2,671,358 shares of the electronics maker’s stock worth $88,155,000 after acquiring an additional 861,239 shares during the period. Millennium Management LLC increased its position in shares of Sanmina by 9,868.2% during the fourth quarter. Millennium Management LLC now owns 543,568 shares of the electronics maker’s stock worth $17,938,000 after acquiring an additional 538,115 shares during the period. Renaissance Technologies LLC increased its position in shares of Sanmina by 743.1% during the fourth quarter. Renaissance Technologies LLC now owns 412,533 shares of the electronics maker’s stock worth $13,614,000 after acquiring an additional 363,600 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Sanmina by 82.3% during the fourth quarter. Deutsche Bank AG now owns 750,137 shares of the electronics maker’s stock worth $24,751,000 after acquiring an additional 338,558 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

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About Sanmina

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

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