Sanmina Corporation (SANM) Earns Coverage Optimism Rating of 0.23

Media headlines about Sanmina Corporation (NASDAQ:SANM) have trended somewhat positive on Wednesday, Accern Sentiment reports. Accern rates the sentiment of news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Sanmina Corporation earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave news headlines about the electronics maker an impact score of 46.0599250355121 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

A number of research firms have recently commented on SANM. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Sanmina Corporation in a research note on Wednesday, October 4th. ValuEngine downgraded shares of Sanmina Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $40.00 price objective on shares of Sanmina Corporation in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $43.25.

Shares of Sanmina Corporation (NASDAQ SANM) opened at 38.45 on Wednesday. The firm has a market capitalization of $2.90 billion, a P/E ratio of 14.04 and a beta of 0.79. The company has a 50-day moving average of $37.18 and a 200 day moving average of $37.80. Sanmina Corporation has a 52 week low of $26.70 and a 52 week high of $42.95.

Sanmina Corporation (NASDAQ:SANM) last issued its quarterly earnings data on Monday, July 24th. The electronics maker reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Sanmina Corporation will post $3.01 earnings per share for the current year.

Sanmina Corporation announced that its Board of Directors has initiated a share buyback program on Monday, September 18th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 77% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $37.21, for a total value of $372,100.00. Following the completion of the sale, the vice president now directly owns 180,000 shares of the company’s stock, valued at approximately $6,697,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.96% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Sanmina Corporation (NASDAQ:SANM)

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