SANM - Sanmina: Potential Limitation For Near-Term Growth (Rating Downgrade)
2024-05-09 23:58:20 ET
Summary
- Sanmina's Q2 2024 results showed a revenue miss and guidance below expectations.
- The management, however, was pleased with the results and indicated that the revenue has hit bottom.
- SANM is now trading at a premium compared to its historical five-year averages, indicating a potential limitation for the stock's near-term growth.
Investment Thesis
Sanmina ( SANM ) reported its Q2 2024 results on April 29, 2024. Revenue missed expectations by $60 million and EPS was a beat by $0.05. The company delivered revenue of $1.83 billion (-21% YoY), and non-GAAP EPS of $1.30....
Sanmina: Potential Limitation For Near-Term Growth (Rating Downgrade)