Zacks Investment Research upgraded shares of Sanmina Corporation (NASDAQ:SANM) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
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 research firms also recently weighed in on SANM. Royal Bank Of Canada decreased their price objective on Sanmina Corporation from $42.00 to $40.00 and set a sector perform rating for the company in a report on Tuesday, July 25th. ValuEngine upgraded Sanmina Corporation from a hold rating to a buy rating in a report on Thursday, July 27th. Needham & Company LLC restated a buy rating and issued a $45.00 price objective on shares of Sanmina Corporation in a report on Tuesday, July 25th. Finally, Bank of America Corporation restated a buy rating and issued a $48.00 price objective on shares of Sanmina Corporation in a report on Thursday, June 15th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Sanmina Corporation currently has a consensus rating of Buy and an average target price of $42.80.
Shares of Sanmina Corporation (NASDAQ:SANM) opened at 36.50 on Friday. The stock has a 50 day moving average of $36.41 and a 200-day moving average of $38.12. Sanmina Corporation has a 52-week low of $26.54 and a 52-week high of $42.95. The stock has a market capitalization of $2.75 billion, a P/E ratio of 13.33 and a beta of 0.78.
Sanmina Corporation (NASDAQ:SANM) last released its earnings results on Monday, July 24th. The electronics maker reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by $0.01. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts predict that Sanmina Corporation will post $3.01 EPS for the current fiscal year.
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In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $38.40, for a total value of $384,000.00. Following the transaction, the vice president now owns 200,000 shares in the company, valued at $7,680,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 30,000 shares of company stock worth $1,125,600 in the last quarter. 4.96% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Sanmina Corporation by 20,899.1% in the first quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock valued at $449,352,000 after purchasing an additional 11,015,080 shares during the last quarter. Vanguard Group Inc. grew its stake in Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock valued at $293,059,000 after purchasing an additional 548,729 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Sanmina Corporation by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock valued at $241,823,000 after purchasing an additional 65,223 shares during the last quarter. LSV Asset Management grew its stake in Sanmina Corporation by 2.5% in the second quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock valued at $142,169,000 after purchasing an additional 91,300 shares during the last quarter. Finally, State Street Corp grew its stake in Sanmina Corporation by 3.6% in the second quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock valued at $73,977,000 after purchasing an additional 67,853 shares during the last quarter. Institutional investors own 92.78% of the company’s stock.
Sanmina Corporation 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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