Needham & Company Reiterates a 'Buy' on Sanmina-SCI Corp. (SANM); Disappointing Guidance, But Trough Behind, Opportunity Ahead
Tweet
Share
E-mailGet Alerts SANM Hot Sheet
Price: $210.84 +2.07%
Rating Summary:
5 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company reiterates a 'Buy' on Sanmina-SCI Corp. (NASDAQ: SANM) price target lowered $1 to $13.
Analyst, Sean K.F. Hannan, said, "We are not overwhelmingly concerned by SANM’s 2nd consecutive quarter of disappointing guidance as we believe the business has already troughed and appears poised for improvement. While management may point to more encouraging 2HC12 customer forecasts, we also focus investors on the fact that Communications (~45% of biz) sat through a period of slight volatility and plenty of OEM pause that shouldn’t continue unless the market has larger fundamental problems (not a view we presently hold)...With the potential for either slight return of spending in organic markets or new program launches across all segments, we expect 2HC12 to exhibit annual improvement."
"Lowering estimates. F3Q12 now $1.50B in revs. & $0.27. vs, prior $1.58B & $0.37. F12 now $6.04B & $1.18, vs. prior $6.23B & $1.36."
For an analyst ratings summary and ratings history on Sanmina-SCI Corp. click here. For more ratings news on Sanmina-SCI Corp. click here.
Shares of Sanmina-SCI Corp. closed at $10.26 yesterday.
Analyst, Sean K.F. Hannan, said, "We are not overwhelmingly concerned by SANM’s 2nd consecutive quarter of disappointing guidance as we believe the business has already troughed and appears poised for improvement. While management may point to more encouraging 2HC12 customer forecasts, we also focus investors on the fact that Communications (~45% of biz) sat through a period of slight volatility and plenty of OEM pause that shouldn’t continue unless the market has larger fundamental problems (not a view we presently hold)...With the potential for either slight return of spending in organic markets or new program launches across all segments, we expect 2HC12 to exhibit annual improvement."
"Lowering estimates. F3Q12 now $1.50B in revs. & $0.27. vs, prior $1.58B & $0.37. F12 now $6.04B & $1.18, vs. prior $6.23B & $1.36."
For an analyst ratings summary and ratings history on Sanmina-SCI Corp. click here. For more ratings news on Sanmina-SCI Corp. click here.
Shares of Sanmina-SCI Corp. closed at $10.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)
- Coherent (COHR) PT Raised to $420 at Needham
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
