Sanmina (SANM) PT Lowered to $31.00 at Royal Bank of Canada

Sanmina (NASDAQ:SANM) had its price target reduced by equities research analysts at Royal Bank of Canada to $31.00 in a research note issued on Monday, The Fly reports. The brokerage presently has a “sector perform” rating on the electronics maker’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 12.55% from the company’s current price.

Other equities analysts have also issued research reports about the company. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Sanmina in a research note on Wednesday, October 4th. ValuEngine lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. BidaskClub lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Craig Hallum upgraded Sanmina from a “hold” rating to a “buy” rating in a research note on Monday, December 18th. Finally, Zacks Investment Research upgraded Sanmina from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $41.33.

Shares of Sanmina (NASDAQ SANM) traded up $0.50 during mid-day trading on Monday, hitting $35.45. The stock had a trading volume of 578,700 shares, compared to its average volume of 610,331. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.24. Sanmina has a fifty-two week low of $29.95 and a fifty-two week high of $42.95. The firm has a market cap of $1,930.00, a PE ratio of 19.92, a PEG ratio of 0.99 and a beta of 0.79.

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

Large investors have recently bought and sold shares of the business. BlackRock Institutional Trust Company N.A. increased its stake in Sanmina by 3.9% during the 1st quarter. BlackRock Institutional Trust Company N.A. now owns 2,052,064 shares of the electronics maker’s stock worth $47,977,000 after buying an additional 77,648 shares in the last quarter. Globeflex Capital L P acquired a new position in shares of Sanmina during the 1st quarter worth approximately $401,000. Renaissance Technologies LLC boosted its holdings in shares of Sanmina by 329.8% during the 4th quarter. Renaissance Technologies LLC now owns 194,433 shares of the electronics maker’s stock worth $7,126,000 after purchasing an additional 149,200 shares during the last quarter. Comerica Bank boosted its holdings in shares of Sanmina by 5.8% during the 1st quarter. Comerica Bank now owns 83,320 shares of the electronics maker’s stock worth $3,212,000 after purchasing an additional 4,539 shares during the last quarter. Finally, Skyline Asset Management LP boosted its holdings in shares of Sanmina by 3.8% during the 1st quarter. Skyline Asset Management LP now owns 1,155,010 shares of the electronics maker’s stock worth $27,004,000 after purchasing an additional 42,600 shares during the last quarter. Institutional investors own 92.49% 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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