Shares of Sanmina Corp (NASDAQ:SANM) have received a consensus rating of “Sell” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $33.00.
SANM has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. TheStreet upgraded shares of Sanmina from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Finally, Zacks Investment Research lowered shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Thursday.
In related news, SVP Brent Billinger sold 931 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $30.12, for a total transaction of $28,041.72. Following the completion of the sale, the senior vice president now owns 20,877 shares of the company’s stock, valued at approximately $628,815.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.55% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in SANM. Nuveen Asset Management LLC bought a new stake in shares of Sanmina during the 2nd quarter valued at about $38,749,000. Norges Bank bought a new stake in shares of Sanmina during the 4th quarter valued at about $24,725,000. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Sanmina during the 2nd quarter valued at about $20,185,000. BlackRock Inc. grew its position in shares of Sanmina by 5.3% during the 1st quarter. BlackRock Inc. now owns 10,575,697 shares of the electronics maker’s stock valued at $305,110,000 after buying an additional 533,066 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Sanmina by 357.7% during the 2nd quarter. Morgan Stanley now owns 354,302 shares of the electronics maker’s stock valued at $10,728,000 after buying an additional 276,897 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.
Shares of Sanmina stock traded up $0.77 during trading on Friday, reaching $30.04. The company had a trading volume of 285,400 shares, compared to its average volume of 463,602. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 0.83 and a beta of 1.33. The firm’s fifty day moving average is $30.61 and its 200-day moving average is $30.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.14 and a current ratio of 1.64. Sanmina has a fifty-two week low of $22.30 and a fifty-two week high of $34.71.
Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, July 29th. The electronics maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.98 billion. Sanmina had a net margin of 1.55% and a return on equity of 13.98%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. On average, research analysts anticipate that Sanmina will post 2.98 EPS for the current fiscal year.
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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