Sanmina Corp. (SANM) Sees Strong Trading Volume
Shares of Sanmina Corp. (NASDAQ:SANM) saw unusually-strong trading volume on Friday . Approximately 416,370 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 469,255 shares.The stock last traded at $28.82 and had previously closed at $28.77.
A number of equities analysts have recently weighed in on SANM shares. Zacks Investment Research lowered Sanmina Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price (up from $27.00) on shares of Sanmina Corp. in a research report on Tuesday, May 31st. Royal Bank Of Canada boosted their target price on Sanmina Corp. from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 26th. Finally, B. Riley reiterated a “buy” rating and issued a $29.00 target price (up from $26.00) on shares of Sanmina Corp. in a research report on Tuesday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $26.63.
The company has a market cap of $2.11 billion and a price-to-earnings ratio of 5.93. The stock’s 50 day moving average price is $27.60 and its 200 day moving average price is $23.22.
Sanmina Corp. (NASDAQ:SANM) last released its quarterly earnings data on Monday, April 25th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $281.70 million. The business’s quarterly revenue was down 99.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 EPS. Analysts predict that Sanmina Corp. will post $2.50 EPS for the current year.
In other Sanmina Corp. news, EVP Charles Kostalnick II sold 15,834 shares of Sanmina Corp. stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $25.24, for a total transaction of $399,650.16. Following the completion of the transaction, the executive vice president now owns 63,334 shares in the company, valued at approximately $1,598,550.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alan Mcwilliams Reid sold 4,362 shares of Sanmina Corp. stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $23.96, for a total value of $104,513.52. Following the transaction, 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.
Several institutional investors recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new position in Sanmina Corp. during the fourth quarter worth $1,017,000. Bailard Inc. acquired a new stake in Sanmina Corp. during the fourth quarter worth approximately $1,295,000. Airain ltd acquired a new stake in Sanmina Corp. during the fourth quarter worth approximately $1,506,000. Rhumbline Advisers boosted its stake in Sanmina Corp. by 3.2% in the fourth quarter. Rhumbline Advisers now owns 139,766 shares of the company’s stock worth $2,876,000 after buying an additional 4,360 shares during the period. Finally, Bank of Montreal Can boosted its stake in Sanmina Corp. by 98.3% in the fourth quarter. Bank of Montreal Can now owns 246,085 shares of the company’s stock worth $5,064,000 after buying an additional 121,965 shares during the period.
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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