Sanmina Corp. Downgraded to Underperform at Raymond James (SANM)
Sanmina Corp. (NASDAQ:SANM) was downgraded by investment analysts at Raymond James from a “market perform” rating to an “underperform” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
Shares of Sanmina Corp. (NASDAQ:SANM) traded down 5.43% during mid-day trading on Monday, hitting $15.33. The stock had a trading volume of 2,015,187 shares. Sanmina Corp. has a 52 week low of $9.12 and a 52 week high of $18.44. The stock has a 50-day moving average of $15.90 and a 200-day moving average of $16.17. The company has a market cap of $1.291 billion and a price-to-earnings ratio of 17.43.
Sanmina Corp. (NASDAQ:SANM) last released its earnings data on Monday, October 28th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.06. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. On average, analysts predict that Sanmina Corp. will post $1.63 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SANM. Analysts at RBC Capital raised their price target on shares of Sanmina Corp. from $8.00 to $9.00 in a research note to investors on Tuesday, October 29th. They now have an “underperform” rating on the stock. Separately, analysts at Cross Research upgraded shares of Sanmina Corp. from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, October 29th. Finally, analysts at Craig Hallum downgraded shares of Sanmina Corp. from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, October 29th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Sanmina Corp. presently has a consensus rating of “Hold” and an average target price of $13.20.
Sanmina Corporation, formerly Sanmina-SCI Corporation, is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services.
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