Sanmina (NASDAQ:SANM) Releases Q2 Earnings Guidance
Sanmina (NASDAQ:SANM) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $0.65-0.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.72. The company issued revenue guidance of $1.70-1.80 billion, compared to the consensus revenue estimate of $1.79 billion.Sanmina also updated its Q2 2020
After-Hours guidance to 0.65-0.75 EPS.
SANM has been the subject of a number of research analyst reports. Zacks Investment Research raised Sanmina from a strong sell rating to a hold rating in a research report on Wednesday, January 1st. BidaskClub downgraded shares of Sanmina from a buy rating to a hold rating in a report on Saturday, January 11th. TheStreet lowered shares of Sanmina from a b rating to a c+ rating in a research report on Monday, October 28th. Finally, ValuEngine cut shares of Sanmina from a hold rating to a sell rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $33.00.
Sanmina stock traded down $1.63 during trading on Monday, hitting $32.66. The stock had a trading volume of 528,572 shares, compared to its average volume of 324,240. The stock’s 50 day moving average is $33.96 and its two-hundred day moving average is $31.78. Sanmina has a 1 year low of $26.10 and a 1 year high of $34.83. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. The company has a quick ratio of 1.20, a current ratio of 1.74 and a debt-to-equity ratio of 0.21.
In related news, VP Dennis Young sold 30,933 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $32.35, for a total value of $1,000,682.55. Following the sale, the vice president now directly owns 27,157 shares in the company, valued at approximately $878,528.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan Mcwilliams Reid sold 8,503 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $32.26, for a total value of $274,306.78. Following the completion of the sale, the executive vice president now owns 37,195 shares in the company, valued at $1,199,910.70. The disclosure for this sale can be found here. Insiders have sold a total of 238,972 shares of company stock valued at $7,741,768 in the last quarter. 3.73% of the stock is owned by corporate insiders.
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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