Why Sanmina Corp. Shares Fell Today

Shares of Sanmina (NASDAQ: SANM) fell as much as 14.6% on Tuesday morning. The stock started to recover from that trough at 9:42 a.m. EDT, and was trading down by 8.2% as of 11:45 a.m. EDT.

The designer and manufacturer of printed circuit boards and other advanced electronics components reported third-quarter earnings on Monday night, and the results fell short of Wall Street's expectations. Earnings rose 17% year over year, to $0.74 per share, but analysts were looking for $0.75 per share. Revenues increased 2.4%, to $1.71 billion, but the Street was looking for a 4.2% increase. Management's guidance targets for the fourth quarter also landed just short of current analyst expectations.

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Source: Fool.com