Sanmina Corp (NASDAQ:SANM) Given Average Rating of “Hold” by Analysts

Shares of Sanmina Corp (NASDAQ:SANM) have been assigned a consensus rating of “Hold” from the six analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $33.00.

Several research analysts have commented on the stock. BidaskClub upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. ValuEngine cut shares of Sanmina from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Citigroup lowered their target price on shares of Sanmina from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. TheStreet cut shares of Sanmina from a “b” rating to a “c+” rating in a report on Monday, October 28th. Finally, Zacks Investment Research cut shares of Sanmina from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th.

NASDAQ SANM opened at $32.62 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.74 and a debt-to-equity ratio of 0.21. Sanmina has a 52 week low of $22.30 and a 52 week high of $34.71. The stock has a market capitalization of $2.25 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. The firm has a 50 day moving average of $31.39 and a two-hundred day moving average of $30.50.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, October 28th. The electronics maker reported $0.84 EPS for the quarter, topping the consensus estimate of $0.77 by $0.07. Sanmina had a net margin of 1.72% and a return on equity of 14.09%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Sanmina will post 2.79 earnings per share for the current fiscal year.

In other news, Director John Goldsberry sold 11,850 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $32.22, for a total value of $381,807.00. Following the completion of the transaction, the director now owns 27,045 shares in the company, valued at approximately $871,389.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Jure Sola sold 134,489 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $32.37, for a total transaction of $4,353,408.93. Following the completion of the transaction, the chairman now owns 932,639 shares of the company’s stock, valued at approximately $30,189,524.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 199,536 shares of company stock valued at $6,466,778. Company insiders own 5.55% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in Sanmina by 4.4% during the 2nd quarter. BlackRock Inc. now owns 11,043,399 shares of the electronics maker’s stock worth $334,393,000 after purchasing an additional 467,702 shares during the period. Vanguard Group Inc. boosted its stake in Sanmina by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,026,150 shares of the electronics maker’s stock worth $212,753,000 after purchasing an additional 44,305 shares during the period. Earnest Partners LLC boosted its stake in Sanmina by 1.2% during the 2nd quarter. Earnest Partners LLC now owns 3,034,468 shares of the electronics maker’s stock worth $91,884,000 after purchasing an additional 36,179 shares during the period. Nuveen Asset Management LLC acquired a new stake in Sanmina during the 2nd quarter worth $38,749,000. Finally, Renaissance Technologies LLC boosted its stake in Sanmina by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,088,341 shares of the electronics maker’s stock worth $32,955,000 after purchasing an additional 126,800 shares during the period. Institutional investors and hedge funds own 92.46% of the company’s stock.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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