Sanmina Corp Stock Rating Reaffirmed by Citigroup Inc. (SANM)
Sanmina Corp (NASDAQ:SANM)‘s stock had its “neutral” rating restated by research analysts at Citigroup Inc. in a report released on Tuesday. They currently have a $23.00 price target on the stock, up from their previous price target of $20.00. Citigroup Inc.’s target price would suggest a potential upside of 2.91% from the stock’s previous close.
Sanmina Corp (NASDAQ:SANM) traded up 9.15% during mid-day trading on Tuesday, hitting $24.395. 1,179,054 shares of the company’s stock traded hands. Sanmina Corp has a 1-year low of $14.02 and a 1-year 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 $2.008 billion and a P/E ratio of 19.02.
Sanmina Corp (NASDAQ:SANM) last issued its quarterly earnings data on Monday, July 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that Sanmina Corp will post $1.83 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SANM. 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. Separately, 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. Finally, analysts at RBC Capital raised their price target on shares of Sanmina Corp from $10.00 to $11.00 in a research note on Tuesday. They now have an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.08.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services.
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