Sanmina Corp Reaches New 12-Month High at $23.40 (SANM)
Sanmina Corp (NASDAQ:SANM) shares hit a new 52-week high during mid-day trading on Tuesday , AR Network reports. The company traded as high as $23.40 and last traded at $23.31, with a volume of 167,228 shares trading hands. The stock had previously closed at $22.78.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Sanmina Corp from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 24th. They now have a $24.10 price target on the stock. Separately, analysts at Needham & Company LLC raised their price target on shares of Sanmina Corp from $22.00 to $24.00 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.66.
The stock has a 50-day moving average of $21.3 and a 200-day moving average of $18.40. The company has a market cap of $1.911 billion and a price-to-earnings ratio of 19.39.
Sanmina Corp (NASDAQ:SANM) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts expect that Sanmina Corp will post $1.81 EPS for the current fiscal year.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services.
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