Sanmina (NASDAQ:SANM) was upgraded by equities research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a report issued on Monday, The Fly reports.
A number of other analysts also recently commented on SANM. Zacks Investment Research upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. ValuEngine upgraded shares of Sanmina from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Royal Bank of Canada reiterated a “hold” rating and issued a $40.00 price objective on shares of Sanmina in a report on Friday, September 1st. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Sanmina in a research note on Wednesday, October 4th. Finally, Bank of America cut shares of Sanmina from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.33.
Shares of Sanmina (NASDAQ SANM) opened at $30.55 on Monday. The company has a market cap of $2,200.24, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.85 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.24. Sanmina has a 1-year low of $29.95 and a 1-year high of $42.95.
Sanmina announced that its board has authorized a stock repurchase plan on Monday, September 18th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the electronics maker to reacquire up to 77% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the company. Hanseatic Management Services Inc. boosted its position in shares of Sanmina by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 9,654 shares of the electronics maker’s stock worth $368,000 after purchasing an additional 116 shares during the period. Amalgamated Bank boosted its position in shares of Sanmina by 1.6% during the 2nd quarter. Amalgamated Bank now owns 10,104 shares of the electronics maker’s stock worth $385,000 after purchasing an additional 158 shares during the period. Stifel Financial Corp boosted its position in shares of Sanmina by 3.3% during the 2nd quarter. Stifel Financial Corp now owns 7,658 shares of the electronics maker’s stock worth $291,000 after purchasing an additional 246 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Sanmina by 0.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,766 shares of the electronics maker’s stock worth $1,248,000 after purchasing an additional 272 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its position in shares of Sanmina by 4.3% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 7,357 shares of the electronics maker’s stock worth $280,000 after purchasing an additional 300 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.
About Sanmina
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.
