Sanmina Corporation (SANM) Upgraded at Zacks Investment Research
Sanmina Corporation (NASDAQ:SANM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
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. “
Several other equities research analysts also recently commented on SANM. Bank of America Corporation reaffirmed a “buy” rating and issued a $48.00 target price on shares of Sanmina Corporation in a research note on Thursday, June 15th. Royal Bank Of Canada lowered 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 reaffirmed a “buy” rating and issued 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 analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Sanmina Corporation has an average rating of “Buy” and an average price target of $42.80.
Sanmina Corporation (NASDAQ:SANM) traded up 0.95% during trading on Thursday, reaching $37.15. 660,188 shares of the company were exchanged. The firm has a 50-day moving average of $36.27 and a 200-day moving average of $38.04. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 13.57 and a beta of 0.78. Sanmina Corporation has a 52-week low of $26.70 and a 52-week high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last issued its earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Sanmina Corporation will post $3.01 EPS for the current year.
In other news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $36.95, for a total transaction of $369,500.00. Following the completion of the sale, the vice president now owns 190,000 shares of the company’s stock, valued at $7,020,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 30,000 shares of company stock valued at $1,125,600 in the last three months. 4.96% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of SANM. Russell Investments Group Ltd. increased its position in shares of Sanmina Corporation by 40.7% during the first quarter. Russell Investments Group Ltd. now owns 227,700 shares of the electronics maker’s stock worth $9,244,000 after acquiring an additional 65,860 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Sanmina Corporation by 2.1% during the first quarter. Wells Fargo & Company MN now owns 531,561 shares of the electronics maker’s stock worth $21,580,000 after acquiring an additional 10,862 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Sanmina Corporation by 7.5% during the first quarter. Great West Life Assurance Co. Can now owns 103,202 shares of the electronics maker’s stock worth $4,184,000 after acquiring an additional 7,215 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Sanmina Corporation by 29.4% during the first quarter. Bank of New York Mellon Corp now owns 1,218,908 shares of the electronics maker’s stock worth $49,487,000 after acquiring an additional 276,942 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Sanmina Corporation by 5.8% during the first quarter. Comerica Bank now owns 83,320 shares of the electronics maker’s stock worth $3,212,000 after acquiring an additional 4,539 shares in the last quarter. 92.78% of the stock is owned by institutional investors.
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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