Sanmina Corp. (SANM) Reaches New 12-Month High at $28.64
Sanmina Corp. (NASDAQ:SANM) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $28.64 and last traded at $28.59, with a volume of 148,459 shares. The stock had previously closed at $28.31.
Several research analysts have issued reports on the stock. B. Riley restated a “buy” rating and issued a $29.00 price target on shares of Sanmina Corp. in a research report on Tuesday, June 7th. Needham & Company LLC restated a “buy” rating and issued a $32.00 price target (up previously from $27.00) on shares of Sanmina Corp. in a research report on Tuesday, May 31st. Zacks Investment Research upgraded shares of Sanmina Corp. from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Friday, May 27th. Finally, Royal Bank Of Canada lifted their price target on shares of Sanmina Corp. from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $26.63.
The stock’s 50 day moving average price is $27.27 and its 200 day moving average price is $22.89. The company has a market capitalization of $2.11 billion and a P/E ratio of 5.91.
Sanmina Corp. (NASDAQ:SANM) last announced its quarterly earnings results on Monday, April 25th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The firm earned $1.61 billion during the quarter, compared to analyst estimates of $281.70 million. The business’s revenue was down 99.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. On average, equities research analysts expect that Sanmina Corp. will post $2.50 earnings per share for the current fiscal year.
In other Sanmina Corp. news, Director Jackie M. Ward sold 5,001 shares of the stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $26.00, for a total value of $130,026.00. Following the completion of the sale, the director now owns 213,365 shares in the company, valued at $5,547,490. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alan Mcwilliams Reid sold 4,362 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $23.96, for a total transaction of $104,513.52. Following the completion of the sale, the executive vice president now owns 20,184 shares of the company’s stock, valued at approximately $483,608.64. The disclosure for this sale can be found here.
Other hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Sanmina Corp. by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,830,810 shares of the company’s stock worth $140,579,000 after buying an additional 67,813 shares in the last quarter. Towle & Co. boosted its stake in Sanmina Corp. by 0.5% in the fourth quarter. Towle & Co. now owns 941,828 shares of the company’s stock worth $19,383,000 after buying an additional 4,324 shares in the last quarter. Bailard Inc. bought a new stake in Sanmina Corp. during the fourth quarter worth about $1,295,000. Principal Financial Group Inc. boosted its stake in Sanmina Corp. by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 534,121 shares of the company’s stock worth $10,992,000 after buying an additional 9,971 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Sanmina Corp. by 12.4% in the fourth quarter. Wells Fargo & Company MN now owns 601,976 shares of the company’s stock worth $12,389,000 after buying an additional 66,265 shares in the last quarter.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries.
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