Sanmina Corp. (SANM) Shares Up 3.3%
Sanmina Corp. (NASDAQ:SANM) shot up 3.3% during mid-day trading on Wednesday . The company traded as high as $25.61 and last traded at $25.52, with a volume of 930,435 shares traded. The stock had previously closed at $24.70.
A number of brokerages have issued reports on SANM. B. Riley reaffirmed a “buy” rating and set a $29.00 target price on shares of Sanmina Corp. in a research report on Monday, May 23rd. RBC Capital Markets reaffirmed an “in-line” rating and set a $29.00 target price on shares of Sanmina Corp. in a research report on Tuesday. Craig Hallum cut Sanmina Corp. from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a research report on Tuesday. Zacks Investment Research cut Sanmina Corp. from a “strong-buy” rating to a “sell” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price (up previously from $27.00) on shares of Sanmina Corp. in a research report on Tuesday, May 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.30.
The stock has a market capitalization of $1.90 billion and a price-to-earnings ratio of 5.33. The company’s 50-day moving average price is $27.50 and its 200 day moving average price is $23.41.
Sanmina Corp. (NASDAQ:SANM) last announced its earnings results on Monday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.63. During the same period in the prior year, the business posted $0.53 EPS. The firm earned $1.67 billion during the quarter, compared to analyst estimates of $1.66 billion. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that Sanmina Corp. will post $2.49 EPS for the current fiscal year.
In other Sanmina Corp. news, EVP Alan Mcwilliams Reid sold 4,362 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $23.96, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jackie M. Ward sold 5,001 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $26.00, for a total value of $130,026.00. Following the transaction, the director now directly owns 213,365 shares in the company, valued at approximately $5,547,490. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of SANM. GSA Capital Partners LLP bought a new position in Sanmina Corp. during the fourth quarter valued at $1,017,000. Bailard Inc. bought a new position in Sanmina Corp. during the fourth quarter valued at $1,295,000. Airain ltd bought a new position in Sanmina Corp. during the fourth quarter valued at $1,506,000. Rhumbline Advisers raised its position in Sanmina Corp. by 3.2% in the fourth quarter. Rhumbline Advisers now owns 139,766 shares of the company’s stock valued at $2,876,000 after buying an additional 4,360 shares during the period. Finally, Bank of Montreal Can raised its position in Sanmina Corp. by 98.3% in the fourth quarter. Bank of Montreal Can now owns 246,085 shares of the company’s stock valued at $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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