Sanmina Corp SANM:NASDAQ

Last Price$26.84NASDAQ Previous Close - Last Trade as of 3:59PM ET 10/19/20

Today's Change-0.37(1.36%)
Bid (Size)$22.57 (1)
Ask (Size)$30.00 (20)
Day Low / High$26.80 - 27.54
Volume323.8 K

Sector Update: Chipmakers Fueling Gains for Tech Stocks

1:47PM ET 7/30/2020 MT Newswires
Technology stocks reversed their morning slide, supported by gains for chipmakers. At last look, the SPDR Technology Select Sector ETF was climbing 0.4% while the Philadelphia Semiconductor Index was ahead 1.6% this afternoon.

In company news, Sanmina (SANM) rose nearly 15% after late Wednesday reporting non-GAAP net income of $0.86 during its fiscal Q3 ended June 27, improving on an $0.82 per share adjusted profit during the same quarter last year and beating the Capital IQ consensus expecting the electronic components manufacturer to earn $0.34 per share, excluding one-time items. Revenue fell 18.7% year-over-year to $1.65 billion but also topped the $1.57 billion analyst mean. It also projected Q4 results exceeding Street views.

Qualcomm (QCOM) also added 14.5% in value after it reported non-GAAP net income of $0.86 per share during its fiscal Q3 ended June 28, up from $0.80 per share during the year-ago period and exceeding the Street view expecting a $0.71 per share adjusted profit.

Mimecast (MIME) was up 0.3% on Thursday after the data-security firm announced its purchase of privately held eTorch, a messaging security company doing business as MessageControl. The financial details of the deal were not disclosed and Mimecast said it does not expect the acquisition will have a material impact on its FY21 revenue or adjusted earnings before interest, taxes, depreciation and amoritization.