Sanmina Corporation (SANM) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Sanmina Corporation (NASDAQ:SANM) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
According to Zacks, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California. “
Several other analysts have also recently weighed in on the company. Royal Bank Of Canada reaffirmed a hold rating and issued a $40.00 price target on shares of Sanmina Corporation in a report on Friday, September 1st. ValuEngine raised Sanmina Corporation from a buy rating to a strong-buy rating in a report on Friday, September 1st. Needham & Company LLC reaffirmed a buy rating and issued a $45.00 price target on shares of Sanmina Corporation in a report on Tuesday, July 25th. Finally, Bank of America Corporation reaffirmed a buy rating and issued a $48.00 price target on shares of Sanmina Corporation in a report on Thursday, June 15th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $42.80.
Sanmina Corporation (SANM) opened at 37.15 on Thursday. The firm’s 50-day moving average price is $36.27 and its 200 day moving average price is $38.04. The firm has a market cap of $2.80 billion, a P/E ratio of 13.57 and a beta of 0.78. Sanmina Corporation has a 52 week low of $26.70 and a 52 week high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 24th. The electronics maker reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the business earned $0.63 EPS. The business’s revenue was up 2.5% on a year-over-year basis. Equities analysts forecast that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.
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In related news, VP Robert K. Eulau sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $36.95, for a total transaction of $369,500.00. Following the transaction, the vice president now directly owns 190,000 shares of the company’s stock, valued at approximately $7,020,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 30,000 shares of company stock worth $1,125,600. 4.96% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its holdings in shares of Sanmina Corporation by 5.5% during the 1st quarter. LS Investment Advisors LLC now owns 3,360 shares of the electronics maker’s stock valued at $136,000 after buying an additional 176 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Sanmina Corporation by 70.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after buying an additional 1,627 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Sanmina Corporation during the 2nd quarter valued at about $203,000. Menta Capital LLC purchased a new position in shares of Sanmina Corporation during the 1st quarter valued at about $219,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Sanmina Corporation by 3.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after buying an additional 200 shares in the last quarter. 92.78% of the stock is currently owned by institutional investors.
Sanmina Corporation Company Profile
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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