Sanmina Corp. (SANM) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Sanmina Corp. (SANM)

SANM 177.44

+1.7%

Jan 16 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: JakeStraw who started this subject	9/9/2004 8:56:21 PM
From: mopgcw	of 239

GS: Sanmina-SCI Corp. EPS (FY Sep) 2004E $0.26, 2005E $0.50 Outperform/Neutral (SANM) $6.50 Recently we've noted that differentiation within the EMS group has narrowed considerably. Still, our top pick to year end is SANM as we believe its slight valuation discount to peers will be made up, its 50% exposure to enterprise h/w is the most reliable seasonally strong products in Dec-Q, & cost cuts should also help Dec-Q. Last night in a mtg w/ sell side analysts (& at yesterday's conference), mgmt affirmed Sep-Q guidance & Dec-Q goal of 3+% optg margin. We believe these goals remain achievable. As we've said for most of our coverage, however, we expect conservative guidance for Dec-Q (not because of what mgmt sees in their business, but because of what they read in the papers; besides, most mgmts have finally figured out there's no benefit to being too bullish, so why not be conservative). Seems likely across the group to see light rev guidance but in line EPS (same for SANM). Other takeaways were limited to softer points related to a sound PCB/component strategy & comfort w/ key end mkt segments (incl telecom). We reit our OP/N view.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next