Indore Stock：Sanmina stock soars to 52-week high, hits $77.05

Sanmina Corporation (SANM) shares have reached a new 52-week high, trading at $77.05. This peak reflects a significant uptrend for the electronics manufacturing services provider, marking a substantial gain over the past year. Investors have shown increased confidence in Sanmina's market position and growth prospects, propelling the stock to this new highIndore Stock. Over the past year, Sanmina has witnessed an impressive 72.33% change in its stock price, underscoring the company's strong performance and the positive sentiment among shareholders. This rally to a 52-week high is a testament to Sanmina's strategic initiatives and its ability to adapt to the dynamic demands of the electronics manufacturing sector.

In other recent news, Sanmina Corporation posted strong fourth-quarter earnings, with revenue reaching $2.02 billion, exceeding forecasts of $1.9 billion to $2.0 billion. The company's non-GAAP earnings per share (EPS) also surpassed expectations at $1.43, compared to the predicted $1.30 to $1.40. Sanmina ended fiscal 2024 with a solid financial footing, holding $626 million in cash and cash equivalents and no outstanding debt. This positions the company favorably for anticipated growth in fiscal 2025.

Sanmina projects Q1 FY 2025 revenue to be between $1.925 billion and $2.025 billion, with non-GAAP EPS of $1.30 to $1.40. The company has set its sights on high-single-digit revenue growth in fiscal 2025, driven by diversified markets and new programs. Despite a dip in the cloud segment's revenue, management maintains an optimistic outlook for the sector's recovery.Mumbai Investment

Sanmina is also investing in AI to enhance manufacturing efficiency and supply chain operations. A notable development is the company's partnership with Reliance Industries (NS:) in India, which is expected to capitalize on growth opportunities as India becomes a major exporter of high-tech products. These recent developments underscore Sanmina's strategic approach to business and growth opportunities.Surat Stock

Sanmina Corporation's recent achievement of a 52-week high is further supported by InvestingPro data and insights. The company's stock price is currently trading at 96.82% of its 52-week high, confirming the strong upward momentum mentioned in the article. This aligns with the impressive YTD price total return of 44.83% and a one-year price total return of 40.88%, reflecting sustained investor confidence.

InvestingPro Tips highlight that Sanmina holds more cash than debt on its balance sheet and has a high shareholder yield, which may contribute to investor optimism. Additionally, the company's management has been aggressively buying back shares, potentially supporting the stock's upward trajectory.

Despite these positive indicators, it's worth noting that Sanmina suffers from weak gross profit margins, with InvestingPro data showing a gross profit margin of 8.46% for the last twelve months. This could be an area for investors to monitor going forward.

For readers interested in a more comprehensive analysis, InvestingPro offers 12 additional tips for Sanmina, providing a deeper understanding of the company's financial health and market position.

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