Sanmina (SANM) Surges 22.7%: Is This an Indication of Further Gains?

Sanmina (SANM) shares soared 22.7% in the last trading session to close at $140. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.7% loss over the past four weeks.Sanmina offers end-to-end solutions with a vertically integrated manufacturing process. In-house management of all components from the initial phase to the final product ensures flexibility and responsiveness in operations. This streamlines processes and lowers costs, enabling it to achieve greater economies of scale. It significantly accelerates time to market and time to volume production.  The company also prioritizes expanding into high-growth industries backed by its strong global network, deep expertise and unique value proposition in advanced electronics manufacturing. Attracting and developing strong customer relationships by delivering high-level customer service is one of the key strategies to drive commercial expansion.This electronics manufacturing services company is expected to post quarterly earnings of $1.57 per share in its upcoming report, which represents a year-over-year change of +9.8%. Revenues are expected to be $2.05 billion, up 1.6% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Sanmina, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SANM going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Sanmina is part of the Zacks Electronics - Manufacturing Services industry. Plexus (PLXS), another stock in the same industry, closed the last trading session 2.5% higher at $148.85. PLXS has returned 4.5% in the past month.For Plexus, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.84. This represents a change of -0.5% from what the company reported a year ago. Plexus currently has a Zacks Rank of #4 (Sell).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sanmina Corporation (SANM): Free Stock Analysis Report Plexus Corp. (PLXS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks