NEW YORK (TheStreet) -- Shares of Sanmina (SANM) - Get Report are tumbling 15.99% to $24.48 on heavy trading volume Tuesday afternoon after the company reported in-line earnings for the 2016 fiscal third quarter, but provided downbeat guidance.
After yesterday's market close, the San Jose, CA-based company said it sees earnings per share between 64 cents and 68 cents on revenue of $1.675 billion and $1.725 billion for the fiscal fourth quarter.
Analysts are modeling earnings of 67 cents per share on revenue of $1.72 billion for the current period.
For the third quarter, the manufacturing solutions company posted adjusted earnings of 63 cents per share on revenue of $1.67 billion. Analysts were projecting earnings of 63 cents per share on revenue of $1.66 billion.
About 2.71 million of the company's shares changed hands so far today vs. its average volume of 507,116 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, attractive valuation levels and good cash flow from operations.
The team believes its strengths outweigh the fact that the company shows low profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SANM