SANM Stock Recent News

The electronic components manufacturer posted a mixed fiscal second quarter. In doing so, it reported declines on both the top and bottom lines.

Sanmina Corporation (NASDAQ:SANM ) Q2 2024 Results Conference Call April 29, 2024 5:00 PM ET Company Participants Paige Melching - SVP of Investor Communications Jure Sola - Chairman & CEO Jon Faust - EVP & CFO Conference Call Participants Ruplu Bhattacharya - Bank of America Steven Fox - Fox Advisors LLC Anja Soderstrom - Sidoti Christian Schwab - Craig-Hallum Capital Group Operator Good afternoon, ladies and gentlemen, and welcome to Sanmina's Second Quarter Fiscal 2024 Earnings Conference Call. [Operator Instructions].

Sanmina (SANM) came out with quarterly earnings of $1.30 per share, beating the Zacks Consensus Estimate of $1.26 per share. This compares to earnings of $1.59 per share a year ago.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

After reaching an important support level, Sanmina Corporation (SANM) could be a good stock pick from a technical perspective. SANM recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.

The list of Silicon Valley's hottest technology companies just got an unlikely addition in Sanmina Corporation NASDAQ: SANM. Shares of the San Jose-based electronic manufacturing services (EMS) provider ran as much as 38% on Tuesday after the company released fiscal 2024 first quarter financial results.

Sanmina (SANM) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Sanmina delivered its fiscal Q1 2024 results Monday after the bell, meeting expectations on sales and beating on earnings. Management forecast that earnings will decline sequentially in fiscal Q2 -- but not by as much as Wall Street was expecting.

Sanmina Corporation (SANM) Q1 2024 Earnings Call Transcript

Shares of Sanmina Corp. rallied after hours on Monday after the tech-systems developer and services provider forecast second-quarter results that were above Wall Street's expectations and said it expected stronger results heading into the second half of the year.