Sanmina Corp
 (SANM)

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  • Mon, Jan. 25, 5:10 PM
    • Though Sanmina (NASDAQ:SANM) missed FQ1 sales estimates and posted in-line EPS, the company is guiding for FQ2 revenue of $1.55B-$1.65B and EPS of $0.55-$0.59 vs. a consensus of $1.56B and $0.52.
    • CEO Jure Sola: "We delivered solid margin improvement, EPS expansion and cash generation on a sequential basis [in FQ1], despite softer than expected revenue. As we look to the second quarter, demand is stable with growth driven by new programs. We remain optimistic that fiscal 2016 will be a growth year." The FY16 (ends Sep. '16) revenue growth consensus is at 1.8%.
    • FQ1 details: Helping EPS meet estimates: Gross margin rose 50 bps Y/Y to 8.1% in spite of an 8% revenue drop, and SG&A spend fell by $1.7M to $57.7M. Also: $28.7M was spent to buy back 1.4M shares. R&D spend rose by $1.5M to $9.6M. Sanmina ended FQ1 with $398.4M in cash, and $513.6M in debt.
    • Shares have risen to $18.30 after hours.
    • Sanmina's FQ1 results, earnings release
    | Mon, Jan. 25, 5:10 PM | 1 Comment
  • Mon, Jan. 25, 4:21 PM
    • Sanmina (NASDAQ:SANM): FQ1 EPS of $0.58 in-line.
    • Revenue of $1.53B (-8.4% Y/Y) misses by $60M.
    • Shares +1.84%.
    • Press Release
    | Mon, Jan. 25, 4:21 PM
  • Nov. 3, 2015, 10:13 AM
    • Sanmina (NASDAQ:SANM) has surged towards $25 after beating FQ4 estimates and guiding for FQ1 EPS of $0.56-$0.60, above a $0.54 consensus. . Revenue guidance of $1.55-$1.6B is in-line with a $1.58B consensus.
    • The contract manufacturer is optimistic FY16 (ends Sep. '16) "will be another growth year." The pre-earnings consensus was for FY16 sales to total $6.39B (nearly flat Y/Y).
    • Buybacks lifted FQ4 EPS: $51.8M was spent to repurchase 2.5M shares. A new $200M buyback was launched in September. A 3% Y/Y revenue drop led op. margin (non-GAAP) to fall to 3.8% from 4.2% a year ago. Sanmina ended FQ4 with $412M in cash, and $537M in debt.
    • FQ4 results, PR
    | Nov. 3, 2015, 10:13 AM
  • Oct. 22, 2015, 1:53 PM
    • Believing its valuation is high and end-market demand is weakening, Goldman has downgraded Sanmina (NASDAQ:SANM) to Sell, and set a $20 target.
    • The contract manufacturer currently goes for 9x an FY16 (ends Sep. '16) EPS consensus of $2.32. Shares rallied in July thanks to an FQ3 beat and strong guidance.
    | Oct. 22, 2015, 1:53 PM
  • Jul. 21, 2015, 9:15 AM
    | Jul. 21, 2015, 9:15 AM | 1 Comment
  • Jul. 20, 2015, 5:39 PM
    | Jul. 20, 2015, 5:39 PM | 10 Comments
  • Jul. 20, 2015, 4:12 PM
    • Sanmina (NASDAQ:SANM) has jumped to $20.80 AH after beating FQ3 estimates and issuing strong FQ4 guidance: Revenue of $1.55B-$1.65B and EPS of $0.52-$0.58, above a consensus of $1.56B and $0.53 at the midpoints.
    • Financials: FQ3 gross margin fell 10 bps Y/Y to 7.8%. SG&A spend fell 5% Y/Y to $59.7M (boosted EPS). R&D spend rose 6% to $8.3M. $47.7M was spent on buybacks (also lifted EPS). Sanmina ended FQ3 with $417M in cash, and $432M in debt.
    • FQ3 results, PR
    | Jul. 20, 2015, 4:12 PM
  • Apr. 21, 2015, 12:47 PM
    | Apr. 21, 2015, 12:47 PM
  • Apr. 21, 2015, 9:22 AM
    | Apr. 21, 2015, 9:22 AM
  • Apr. 20, 2015, 5:38 PM
    | Apr. 20, 2015, 5:38 PM
  • Apr. 20, 2015, 5:04 PM
    • In addition to missing FQ2 estimates, Sanmina (NASDAQ:SANM) is guiding for FQ3 revenue of $1.5B-$1.55B and EPS of $0.48-$0.52, below a consensus of $1.64B and $0.56.
    • The contract manufacturer attributes the outlook to "continued headwind in our communications networks segment." Industrial, medical, and defense sales are expected to grow.
    • Op. margin (non-GAAP) rose 10 bps Y/Y to 3.7%. $21.6M was spent to buy back 1M shares. Sanmina ended FQ2 with $407.7M in cash, and $470M in debt.
    • Shares have tumbled to $20.75 AH.
    • FQ2 results, PR
    | Apr. 20, 2015, 5:04 PM
  • Apr. 14, 2015, 12:02 PM
    • Longbow Research has downgraded Sanmina (NASDAQ:SANM) to Neutral ahead of the contract manufacturer's April 20 FQ3 report.
    • Goldman upgraded Sanmina to Buy last month. Shares closed yesterday just $1.30 away from a 52-week high of $26.08.
    | Apr. 14, 2015, 12:02 PM
  • Apr. 7, 2015, 3:18 PM
    • Today's notable tech gainers include privileged account protection software leader CyberArk (CYBR +7.5%), seismic hardware provider Geospace (GEOS +10.5%), M2M hardware/4G router provider Novatel (MIFI +8.4%), Chinese auto site Autohome (ATHM +5.5%), cloud revenue management software provider ServiceSource (SREV +5.4%), and unstructured data management software vendor Varonis (VRNS +4.9%). The Nasdaq is up 0.3%.
    • There are fewer major decliners. Notable ones include RF chipmaker Qorvo (QRVO -3.5%), contract manufacturer Sanmina (SANM -3.4%), and IP licensing firm Worlds (OTCQB:WDDD -10.7%).
    • Volatile CyberArk has risen to its highest levels since early March, two week before a lockup expired. Geospace, buoyed by rising oil prices, is up 22% over the last two days. ServiceSource's gains follow the naming of a new CFO.
    • Qorvo's decline come in spite of a target hike (to $95 from $87) by Brean; the firm argues growing Chinese phone exports and rising RF chip content are offsetting domestic Chinese softness for Qorvo and peers.
    • Previously covered: Twitter, FireEye, DragonWave, Axcelis, IGT, Marketo, 500.com, InPhi, Demandware, Splunk, Informatica
    | Apr. 7, 2015, 3:18 PM
  • Mar. 13, 2015, 9:39 AM
    • Goldman has upgraded Flextronics (FLEX +1.3%) to Neutral and fellow contract manufacturer Sanmina (SANM +2.9%) to Buy. Its targets have respectively been hiked to $12 and $26.
    • Regarding Flextronics, Goldman argues demand from telecom infrastructure clients (pressured lately by weak carrier capex) is bottoming. Consumer hardware sales were a strong point for the company in calendar Q4.
    | Mar. 13, 2015, 9:39 AM | 3 Comments
  • Jan. 27, 2015, 12:40 PM
    | Jan. 27, 2015, 12:40 PM | 5 Comments
  • Jan. 26, 2015, 5:36 PM
    • Top gainers, as of 5:15 p.m.: CLUB +18.4%. PRU +2.9%. GSAT +2.4%. PLOW +1.8%. VIPS +1.6%.
    • Top losers, as of 5:15 p.m.: JOE -9.1%. SANM -8.3%. PKG -5.7%. PX -4.9%. RMBS -4.6%.
    | Jan. 26, 2015, 5:36 PM
Company Description
Sanmina Corp manufactures solutions, components, products and repair, logistics and after-market services. It provides these comprehensive offerings to original equipment manufacturers, or OEMs in communications networks, computing & storage.