Sanmina Corp. (SANM) Trading 2.1% Higher
Sanmina Corp. (NASDAQ:SANM) shares traded up 2.1% on Thursday . The company traded as high as $26.85 and last traded at $26.84, with a volume of 237,422 shares trading hands. The stock had previously closed at $26.28.
A number of research analysts have recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $31.00 target price on shares of Sanmina Corp. in a research report on Tuesday, July 26th. RBC Capital Markets reissued an “in-line” rating and set a $29.00 target price on shares of Sanmina Corp. in a research report on Tuesday, July 26th. Craig Hallum downgraded shares of 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, July 26th. Zacks Investment Research downgraded shares of Sanmina Corp. from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, July 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $32.00 target price (up from $27.00) on shares of Sanmina Corp. in a research report on Tuesday, May 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.30.
The firm has a market cap of $1.97 billion and a P/E ratio of 5.32. The company’s 50 day moving average price is $26.79 and its 200 day moving average price is $24.78.
Sanmina Corp. (NASDAQ:SANM) last issued its earnings results on Monday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. The firm earned $1.67 billion during the quarter, compared to analysts’ expectations of $1.66 billion. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. On average, equities analysts predict that Sanmina Corp. will post $2.50 earnings per share for the current fiscal year.
In other Sanmina Corp. news, Director Wayne Shortridge sold 4,000 shares of Sanmina Corp. stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $26.05, for a total value of $104,200.00. Following the completion of the transaction, the director now directly owns 68,428 shares of the company’s stock, valued at $1,782,549.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jure Sola sold 58,531 shares of Sanmina Corp. stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $26.25, for a total transaction of $1,536,438.75. Following the completion of the transaction, the chairman now directly owns 392,686 shares of the company’s stock, valued at $10,308,007.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Sanmina Corp. stock. Principal Financial Group Inc. boosted its stake in Sanmina Corp. (NASDAQ:SANM) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 534,121 shares of the company’s stock after buying an additional 9,971 shares during the period. Principal Financial Group Inc. owned about 0.69% of Sanmina Corp. worth $10,992,000 as of its most recent SEC filing.
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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