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 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.
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