Sanmina Corp Given New $2.15 Price Target at ISI Group (SANM)
Equities researchers at ISI Group raised their target price on shares of Sanmina Corp (NASDAQ:SANM) from $0.92 to $2.15 in a research report issued on Tuesday. The firm currently has an “average” rating on the stock. ISI Group’s price objective would indicate a potential downside of 90.38% from the company’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Sanmina Corp in a research note on Tuesday. They now have a $23.00 price target on the stock, up previously from $20.00. Separately, analysts at Needham & Company LLC raised their price target on shares of Sanmina Corp from $24.00 to $27.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank upgraded shares of Sanmina Corp from a “sell” rating to a “hold” rating in a research note on Tuesday. They now have a $24.00 price target on the stock, up previously from $15.00. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $18.97.
Shares of Sanmina Corp (NASDAQ:SANM) traded up 8.57% during mid-day trading on Tuesday, hitting $24.265. The stock had a trading volume of 1,421,951 shares. Sanmina Corp has a 52 week low of $14.02 and a 52 week high of $23.40. The stock has a 50-day moving average of $22.21 and a 200-day moving average of $18.97. The company has a market cap of $1.997 billion and a P/E ratio of 19.02.
Sanmina Corp (NASDAQ:SANM) last posted its quarterly earnings results on Monday, July 21st. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that Sanmina Corp will post $1.83 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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