Sanmina Corp Upgraded by Deutsche Bank to “Hold” (SANM)
Sanmina Corp (NASDAQ:SANM) was upgraded by Deutsche Bank from a “sell” rating to a “hold” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $24.00 target price on the stock, up from their previous target price of $15.00.
A number of other firms have also recently commented on SANM. 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. Separately, 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. Finally, 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, six have given a hold rating and five have assigned a buy rating to the company’s stock. Sanmina Corp currently has a consensus rating of “Hold” and a consensus target price of $19.88.
Sanmina Corp (NASDAQ:SANM) traded up 7.38% on Tuesday, hitting $24.00. The stock had a trading volume of 2,382,585 shares. Sanmina Corp has a 52-week low of $14.02 and a 52-week high of $25.25. The stock’s 50-day moving average is $22.26 and its 200-day moving average is $19.02. The company has a market cap of $1.976 billion and a P/E ratio of 19.02.
Sanmina Corp (NASDAQ:SANM) last released its earnings data on Monday, July 21st. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.