Sanmina Corporation (SANM) Given Consensus Rating of “Buy” by Analysts
Sanmina Corporation (NASDAQ:SANM) has received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $39.50.
Several equities research analysts recently issued reports on SANM shares. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Sanmina Corporation in a research note on Tuesday, April 25th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $42.00 price target (up from $39.00) on shares of Sanmina Corporation in a research note on Tuesday, April 25th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $48.00 price target on shares of Sanmina Corporation in a research note on Thursday.
Shares of Sanmina Corporation (NASDAQ SANM) traded up 1.07% during trading on Monday, hitting $37.90. The stock had a trading volume of 21,010 shares. The stock’s 50-day moving average is $37.19 and its 200-day moving average is $37.86. The stock has a market capitalization of $2.86 billion, a P/E ratio of 14.23 and a beta of 0.86. Sanmina Corporation has a 12-month low of $23.50 and a 12-month high of $41.25.
Sanmina Corporation (NASDAQ:SANM) last issued its quarterly earnings data on Monday, April 24th. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Sanmina Corporation had a return on equity of 11.81% and a net margin of 3.07%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Analysts predict that Sanmina Corporation will post $3.05 EPS for the current fiscal year.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $37.10, for a total transaction of $371,000.00. Following the completion of the transaction, the vice president now directly owns 220,000 shares in the company, valued at $8,162,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 30,000 shares of company stock valued at $1,150,500. Company insiders own 4.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SANM. BlackRock Inc. increased its position in shares of Sanmina Corporation by 20,899.1% in the first quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock valued at $449,352,000 after buying an additional 11,015,080 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock valued at $293,059,000 after buying an additional 548,729 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sanmina Corporation by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,281,827 shares of the electronics maker’s stock valued at $255,042,000 after buying an additional 35,365 shares in the last quarter. LSV Asset Management increased its position in shares of Sanmina Corporation by 2.4% in the first quarter. LSV Asset Management now owns 3,640,189 shares of the electronics maker’s stock valued at $147,791,000 after buying an additional 86,294 shares in the last quarter. Finally, State Street Corp increased its position in shares of Sanmina Corporation by 1.9% in the first quarter. State Street Corp now owns 1,873,742 shares of the electronics maker’s stock valued at $76,073,000 after buying an additional 35,137 shares in the last quarter. Institutional investors and hedge funds own 94.15% of the company’s stock.
About Sanmina Corporation
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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