Sanmina Corp's shares fell 19.18% as the stock hit a 5-day low amid a weaker sales forecast for Q2 2026.
The company expects Q2 sales between $3.1 billion and $3.4 billion, with the midpoint of $3.25 billion falling short of analysts' expectations of $3.51 billion, indicating potential softening in market demand. Despite this, Sanmina reported strong Q1 2026 earnings with revenue of $3.19 billion, a 59% year-over-year increase, and a non-GAAP EPS of $2.38, exceeding estimates by $0.25. The optimistic earnings outlook suggests resilience in profitability, even as the sales forecast raises concerns.
The market's reaction reflects a cautious sentiment towards Sanmina's future growth prospects, despite the strong performance in Q1. Investors will be closely monitoring the company's strategic adjustments and market responses to navigate the anticipated challenges.
Wall Street analysts forecast SANM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SANM is 180.00 USD with a low forecast of 180.00 USD and a high forecast of 180.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
Wall Street analysts forecast SANM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SANM is 180.00 USD with a low forecast of 180.00 USD and a high forecast of 180.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
1 Hold
0 Sell
Hold
Current: 152.650
Low
180.00
Averages
180.00
High
180.00
Current: 152.650
Low
180.00
Averages
180.00
High
180.00
Argus
NULL -> Buy
maintain
$170 -> $200
2026-01-28
New
Reason
Argus
Price Target
$170 -> $200
AI Analysis
2026-01-28
New
maintain
NULL -> Buy
Reason
Argus raised the firm's price target on Sanmina to $200 from $170 and keeps a Buy rating on the shares. The firm cites the company's Q1 earnings beat while also noting its extensive manufacturing presence in the Americas, the analyst tells investors in a research note. Tariffs have not been material to Sanmina, and the company appears well positioned based on its agile manufacturing infrastructure and global footprint, Argus adds.
BofA
Neutral
maintain
$180 -> $190
2026-01-22
Reason
BofA
Price Target
$180 -> $190
2026-01-22
maintain
Neutral
Reason
BofA raised the firm's price target on Sanmina (SANM) to $190 from $180 and keeps a Neutral rating on the shares ahead of Q1 earnings. According to the firm, a key question from clients is how quickly Sanmina/ZT Systems can drive revenues from AMD (AMD) rack builds while revenues from Nvidia (NVDA) racks declines. BofA told investors in a research note that positives, including the communications end market coming out of inventory correction and ZT providing full rack assembly capability, are balanced by uncertain macro and Sanmina's learning curve in integrating ZT and then ramping with AMD.
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BofA
Ruplu Bhattacharya
Neutral
maintain
$150 -> $180
2025-11-04
Reason
BofA
Ruplu Bhattacharya
Price Target
$150 -> $180
2025-11-04
maintain
Neutral
Reason
BofA analyst Ruplu Bhattacharya raised the firm's price target on Sanmina (SANM) to $180 from $150 and keeps a Neutral rating on the shares after a "strong" fiscal Q4 report. Positives, including the communications end market coming out of inventory correction and ZT Systems providing full rack assembly capability, are balanced by the uncertain macro backdrop and Sanmina having to integrate the ZT business and then ramp with AMD (AMD), the analyst tells investors in a post-earnings note.
BofA
Neutral
maintain
$100 -> $120
2025-07-11
Reason
BofA
Price Target
$100 -> $120
2025-07-11
maintain
Neutral
Reason
BofA raised the firm's price target on Sanmina (SANM) to $120 from $100 and keeps a Neutral rating on the shares. The acquisition of the the data center infrastructure manufacturing business of ZT systems from AMD (AMD) is strategic, which will increase Sanmina's scale and revs from cloud and AI, the analyst tells investors in a research note. Positives, including the communications end market coming out of an inventory correction, are balanced by on-going weak macro, a tough operating environment and program ramps needed to materialize and get to scale in the second half of the year, BofA says.
About SANM
Sanmina Corporation is a global provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It provides end-to-end manufacturing solutions, delivering support to original equipment manufacturers in the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure markets. Its operations are managed in two businesses: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). IMS segment consists of printed circuit board assembly and test, high-level assembly and test and direct-order-fulfillment. CPS includes advanced printed circuit boards, backplanes and backplane assemblies, cable assemblies, fabricated metal parts, precision machined parts and plastic injected molded parts. Its products include optical, radio frequency and microelectronic design and manufacturing services, multi-chip package memory solutions, high-performance storage platforms and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
