Sanmina (NASDAQ:SANM) Lowered to Buy Rating by Wall Street Zen

Sanmina (NASDAQ:SANM) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Monday.

Several other equities research analysts have also commented on SANM. Weiss Ratings reissued a “buy (b)” rating on shares of Sanmina in a research note on Saturday. Bank of America boosted their price objective on shares of Sanmina from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $94.50.

Sanmina Trading Up 0.7%

NASDAQ:SANM opened at $133.77 on Monday. Sanmina has a one year low of $63.67 and a one year high of $160.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21. The company’s 50-day simple moving average is $120.67 and its 200 day simple moving average is $102.51. The firm has a market capitalization of $7.13 billion, a P/E ratio of 28.64, a PEG ratio of 1.38 and a beta of 1.19.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.42 by $0.11. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Sanmina’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, analysts forecast that Sanmina will post 5.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. raised its holdings in shares of Sanmina by 27.2% during the second quarter. TD Waterhouse Canada Inc. now owns 398 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 85 shares during the last quarter. Trail Ridge Investment Advisors LLC raised its holdings in shares of Sanmina by 2.7% during the third quarter. Trail Ridge Investment Advisors LLC now owns 3,264 shares of the electronics maker’s stock valued at $376,000 after purchasing an additional 86 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Sanmina by 1.5% during the second quarter. Bank of Montreal Can now owns 8,814 shares of the electronics maker’s stock valued at $862,000 after purchasing an additional 128 shares during the last quarter. Moloney Securities Asset Management LLC raised its holdings in shares of Sanmina by 3.9% during the second quarter. Moloney Securities Asset Management LLC now owns 3,668 shares of the electronics maker’s stock valued at $359,000 after purchasing an additional 138 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Sanmina by 1.2% during the first quarter. XTX Topco Ltd now owns 11,886 shares of the electronics maker’s stock valued at $905,000 after purchasing an additional 140 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Company Profile

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