Sanmina (SANM)
Builds complex electronics and AI data-center systems for OEMs across mission-critical markets.
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Manufactures complex electronics and complete systems for OEMs across industrial, medical, defense, automotive, communications, and cloud infrastructure markets. Revenue is dominated by assembly and integration work, now including ZT Systems' AI data-center manufacturing operations, while in-house components, design, software, repair, and logistics provide vertical integration.
Builds complex electronic hardware for OEMs through Integrated Manufacturing Solutions, spanning printed-circuit-board assembly, testing, full-system integration, and fulfillment. The ZT Systems manufacturing business acquired from AMD adds AI and general-purpose data-center infrastructure for hyperscale customers.
Components, Products and Services supplies circuit boards, backplanes, cable assemblies, machined parts, memory, storage, optical and microelectronic products, plus design, repair, and logistics. This vertical integration serves industrial, medical, defense and aerospace, automotive, communications-network, and cloud and AI programs across the Americas, Asia, and Europe.
Most sales now come from assembly and integration, while components and related products generally carry higher margins. Customer concentration, tariffs, supply availability, and export and government-contract rules shape execution; major supply agreements typically do not commit customers to minimum purchase volumes.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jan 28, 2026 | Argus Research | Reiterate | Rating: —Target: — | Target: $200 |
| Jan 29, 2025 | B of A Securities | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 27, 2026Cash & short-term investments $1.84B · Total debt $2.43B · Total assets $9.74B · Shareholders' equity $2.56B
- Revenue
- $3.46B
- Operating income
- $222.7M
- Net income
- $117.1M
No dividends on record.
| Institutions | ≈ 92.81% | 49.74M shares | |
|---|---|---|---|
| 599 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.11% | 595.1K shares | |
| 15 holders · as of Sep 21, 2026 | |||
| Other | ≈ 6.08% | 3.26M shares | |
| remainder | |||
53.60M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 14.99% | 8.03M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 10.25% | 5.50M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.69% | 3.05M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.34% | 2.33M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 4.04% | 2.17M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 17, 2026 | Susan A. Johnson | director | −120 | $200.46 |
| Aug 28, 2026 | Susan A. Johnson | director | −120 | $202.69 |
| May 29, 2026 | Jonathan P. Faust | officer: EVP & CFO | −10,076 | $265.80 |
| May 26, 2026 | ALAN McWILLIAMS REID | officer: EVP, Global Human Resources | −5,000 | $254.39 |
| May 8, 2026 | ALAN McWILLIAMS REID | officer: EVP, Global Human Resources | −1,000 | $248.60 |
- Jabil
Dominant EMS peer at $29.8B revenue competing across all Sanmina end-markets.
- Flex
$25.8B EMS peer across industrial, medical, cloud, and AI infrastructure.
- Celestica
Fast-growing EMS and HPS provider at $12.4B, strong in cloud/AI and aerospace.
- Super Micro Computer
AI rack-scale server leader at $40B+ FY2026, direct post-ZT AI system overlap.
- Plexus
High-mix IMD EMS specialist at $4B, directly mirroring Sanmina’s core niche.
- Benchmark Electronics
$2.7B high-complexity IMD EMS peer overlapping on semi-cap, medical, and A&D.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sanmina | $209.23 | −0.11% | $11.23B | 37.5 | 16.7 | 0.9 | +69.7% |
| Jabil | $303.27 | −0.13% | $31.82B | 37.9 | 19.3 | 0.9 | +11.8% |
| Flex | $112.58 | +0.86% | $41.23B | 43.1 | 21.6 | 1.4 | +20.6% |
| Celestica | $346.30 | +0.55% | $39.60B | 35.8 | 23.0 | 2.5 | +61.3% |
| Super Micro Computer | $40.88 | −0.79% | $26.65B | 12.6 | 9.3 | 0.7 | +93.2% |
| Plexus | $259.36 | +2.77% | $6.75B | 37.3 | 25.9 | 1.5 | +28.1% |
| Benchmark Electronics | $79.50 | +3.03% | $2.77B | 52.5 | 24.8 | 1.0 | +17.7% |
| Median | 37.6 | 22.3 | 1.2 | +24.4% |