Craig Hallum upgraded shares of Sanmina (NASDAQ:SANM) from a hold rating to a buy rating in a report released on Monday, December 18th.
Several other research firms have also issued reports on SANM. ValuEngine lowered Sanmina from a strong-buy rating to a buy rating in a research report on Monday, October 2nd. Needham & Company LLC restated a buy rating and set a $45.00 price target on shares of Sanmina in a research report on Wednesday, October 4th. Zacks Investment Research upgraded Sanmina from a sell rating to a hold rating in a research report on Thursday, September 14th. BidaskClub lowered Sanmina from a strong-buy rating to a buy rating in a research report on Saturday, December 2nd. Finally, Argus lowered Sanmina from a buy rating to a hold rating in a research report on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Sanmina currently has an average rating of Hold and an average price target of $44.33.
Shares of Sanmina (NASDAQ SANM) traded up $0.35 during midday trading on Monday, hitting $34.35. The company had a trading volume of 358,365 shares, compared to its average volume of 838,572. 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 52 week low of $29.95 and a 52 week high of $42.95. The stock has a market cap of $2,470.00, a PE ratio of 19.30, a price-to-earnings-growth ratio of 0.95 and a beta of 0.79.
Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.12). Sanmina had a return on equity of 6.12% and a net margin of 1.47%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. Sanmina’s revenue was up 5.4% compared to the same quarter last year. sell-side analysts anticipate that Sanmina will post 3 earnings per share for the current fiscal year.
Sanmina announced that its Board of Directors has authorized a share buyback program on Monday, September 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 77% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hanseatic Management Services Inc. lifted its stake in shares of Sanmina by 1.2% in the 2nd quarter. Hanseatic Management Services Inc. now owns 9,654 shares of the electronics maker’s stock valued at $368,000 after purchasing an additional 116 shares during the period. Amalgamated Bank lifted its stake in shares of Sanmina by 1.6% in the 2nd quarter. Amalgamated Bank now owns 10,104 shares of the electronics maker’s stock valued at $385,000 after purchasing an additional 158 shares during the period. Stifel Financial Corp lifted its stake in shares of Sanmina by 3.3% in the 2nd quarter. Stifel Financial Corp now owns 7,658 shares of the electronics maker’s stock valued at $291,000 after purchasing an additional 246 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Sanmina by 0.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,766 shares of the electronics maker’s stock valued at $1,248,000 after purchasing an additional 272 shares during the period. Finally, Tocqueville Asset Management L.P. raised its stake in Sanmina by 4.3% during the second quarter. Tocqueville Asset Management L.P. now owns 7,357 shares of the electronics maker’s stock valued at $280,000 after buying an additional 300 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.
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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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