Sanmina Corp (SANM) Receives Consensus Rating of “Hold” from Analysts

Sanmina Corp (NASDAQ:SANM) has received an average recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $42.50.

SANM has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. BidaskClub downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Argus downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Sanmina in a report on Wednesday, October 4th. Finally, Craig Hallum upgraded shares of Sanmina from a “hold” rating to a “buy” rating in a research report on Monday, December 18th.

Shares of Sanmina (SANM) opened at $33.65 on Friday. The stock has a market cap of $2,401.89, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79. Sanmina has a 52 week low of $29.95 and a 52 week high of $42.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.62.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.12). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Sanmina had a net margin of 2.02% and a return on equity of 12.27%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. equities research analysts expect that Sanmina will post 3 earnings per share for the current fiscal year.

Sanmina declared that its board has approved a share buyback plan on Monday, September 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the electronics maker to purchase up to 77% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of large investors have recently added to or reduced their stakes in SANM. Riverhead Capital Management LLC raised its stake in shares of Sanmina by 70.7% in the second quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock worth $150,000 after acquiring an additional 1,627 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Sanmina during the second quarter worth approximately $212,000. ETRADE Capital Management LLC bought a new stake in shares of Sanmina during the third quarter worth approximately $228,000. BlueCrest Capital Management Ltd bought a new stake in shares of Sanmina during the second quarter worth approximately $229,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Sanmina during the third quarter worth approximately $267,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

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Sanmina 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.

Analyst Recommendations for Sanmina (NASDAQ:SANM)

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