Sanmina Corporation (SANM) Raised to Hold at Zacks Investment Research
Sanmina Corporation (NASDAQ:SANM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California. “
A number of other analysts have also recently commented on SANM. Bank of America Corporation reissued a “buy” rating and set a $48.00 target price on shares of Sanmina Corporation in a research note on Thursday, June 15th. Royal Bank Of Canada cut their target price on shares of Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Finally, ValuEngine raised shares of Sanmina Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $42.80.
Shares of Sanmina Corporation (SANM) traded down 0.96% during midday trading on Friday, reaching $36.05. The company’s stock had a trading volume of 313,008 shares. The stock has a 50-day moving average of $36.56 and a 200 day moving average of $38.17. Sanmina Corporation has a 12-month low of $26.30 and a 12-month high of $42.95. The firm has a market capitalization of $2.72 billion, a P/E ratio of 13.17 and a beta of 0.78.
Sanmina Corporation (NASDAQ:SANM) last released its earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by $0.01. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Equities research analysts predict that Sanmina Corporation will post $3.01 EPS for the current fiscal year.
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In related news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $37.21, for a total transaction of $372,100.00. Following the transaction, the vice president now directly owns 180,000 shares in the company, valued at $6,697,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 30,000 shares of company stock worth $1,125,600 over the last 90 days. 4.96% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of SANM. Russell Investments Group Ltd. boosted its holdings in Sanmina Corporation by 40.7% in the 1st quarter. Russell Investments Group Ltd. now owns 227,700 shares of the electronics maker’s stock valued at $9,244,000 after purchasing an additional 65,860 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Sanmina Corporation by 2.1% in the 1st quarter. Wells Fargo & Company MN now owns 531,561 shares of the electronics maker’s stock valued at $21,580,000 after purchasing an additional 10,862 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Sanmina Corporation in the 1st quarter valued at about $6,435,000. Tocqueville Asset Management L.P. boosted its holdings in Sanmina Corporation by 11.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 7,057 shares of the electronics maker’s stock valued at $287,000 after purchasing an additional 746 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in Sanmina Corporation by 7.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 103,202 shares of the electronics maker’s stock valued at $4,184,000 after purchasing an additional 7,215 shares during the last quarter. Institutional investors own 92.78% of the company’s stock.
Sanmina Corporation Company Profile
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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