Movement Alert|Sanmina Rises 7.9% in Regular Trading, Electronic Manufacturing Services Sector Rallies Broadly

Market Focus08-05

On August 5, Sanmina rose 7.9% in regular trading, trading at $208.49/share, with turnover of approximately $40.62 million.

On the news front, the Electronic Manufacturing Services sector saw broad-based strength, providing a tailwind for the stock. Peers Fabrinet surged 16.71%, TTM Technologies gained 11.72%, Flex rose 8.77%, and Celestica advanced 7.28%. The sector-wide rally helped Sanmina recover from a pullback of over 11% that followed its Q3 earnings release on July 27.

Notably, the company's Q3 results significantly exceeded expectations, with adjusted EPS of $3.31 beating the consensus estimate of $2.77 by 19.5%, and revenue of $3.464 billion surpassing the $3.396 billion estimate by 2%. Revenue grew 71.3% year-over-year, while adjusted EPS more than doubled from $1.53 in the prior-year period. Despite the strong beat, the stock had initially sold off post-earnings, and the current move represents a technical recovery aided by sector momentum.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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