Sanmina Corporation’s stock reached a new 52-week high, hitting 106.84 USD, marking a significant milestone for the company. With a market capitalization of $5.7 billion, the electronic equipment manufacturer maintains a strong balance sheet, holding more cash than debt. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with technical indicators suggesting overbought conditions. This achievement reflects a robust performance over the past year, with the stock experiencing a notable 1-year change of 48.87%. The company’s strong financial results and strategic initiatives, including aggressive share buybacks by management, have likely contributed to this upward trajectory, attracting investor interest and confidence. This 52-week high underscores Sanmina’s resilience and growth potential in a competitive market environment. In other recent news, Sanmina Corporation reported second-quarter earnings and revenue that surpassed expectations. The company achieved adjusted earnings per share of $1.41, exceeding the consensus forecast of $1.38. Revenue was recorded at $1.98 billion, slightly above the anticipated $1.96 billion and marking an 8.1% increase year-over-year. Despite these positive results, Sanmina’s third-quarter outlook fell short of analyst estimates, with expected earnings per share ranging from $1.35 to $1.45, below the projected $1.53. Revenue guidance of $1.925 billion to $2.025 billion also missed the $2.066 billion consensus estimate. In a strategic move, Sanmina announced its intention to acquire the data center infrastructure manufacturing business of ZT Systems from AMD (NASDAQ:AMD). BofA Securities described this acquisition as strategic, projecting that it will enhance Sanmina’s scale and revenue from the cloud and AI sectors. The acquisition is expected to close by the end of the calendar year. BofA Securities raised its price target for Sanmina to $120, maintaining a Neutral rating on the stock. The firm noted that positive factors are balanced by weak macro conditions and a challenging operating environment.

Sanmina stock hits 52-week high at 106.84 USD

Sanmina Corporation's stock reached a 52-week high of $106.84, with a $5.7 billion market cap. The company reported strong second-quarter results, including $1.41 adjusted earnings per share and $1.98 billion in revenue, exceeding expectations. However, third-quarter guidance fell short of analyst estimates. Sanmina announced an acquisition of ZT Systems' data center infrastructure business from AMD, with BofA Securities raising its price target to $120.