Sanmina’s (SANM) “Hold” Rating Reaffirmed at Craig Hallum

Sanmina (NASDAQ:SANM)‘s stock had its “hold” rating reiterated by investment analysts at Craig Hallum in a research report issued to clients and investors on Tuesday, MarketBeat reports. They currently have a $62.00 price target on the electronics maker’s stock. Craig Hallum’s price objective points to a potential upside of 1.77% from the company’s previous close.

Separately, Fox Advisors started coverage on shares of Sanmina in a research report on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price objective for the company.

Sanmina Trading Up 0.4 %

NASDAQ:SANM opened at $60.92 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14. Sanmina has a 12 month low of $43.40 and a 12 month high of $69.69. The company has a market cap of $3.46 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 0.95 and a beta of 1.04. The company has a 50 day simple moving average of $61.36 and a two-hundred day simple moving average of $55.48.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.21. Sanmina had a net margin of 3.11% and a return on equity of 12.04%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. The firm’s revenue was down 20.9% on a year-over-year basis. Research analysts forecast that Sanmina will post 5 earnings per share for the current year.

Insider Activity

In other news, Director Susan A. Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $60.64, for a total transaction of $60,640.00. Following the completion of the sale, the director now owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SANM. Norges Bank bought a new position in Sanmina in the 4th quarter worth $21,836,000. FMR LLC lifted its stake in Sanmina by 498.3% in the 3rd quarter. FMR LLC now owns 489,308 shares of the electronics maker’s stock worth $26,560,000 after purchasing an additional 407,528 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in Sanmina in the 4th quarter worth $12,174,000. Earnest Partners LLC lifted its stake in Sanmina by 19.1% in the 3rd quarter. Earnest Partners LLC now owns 1,182,552 shares of the electronics maker’s stock worth $64,189,000 after purchasing an additional 189,832 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its stake in Sanmina by 27.4% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 677,891 shares of the electronics maker’s stock worth $34,823,000 after purchasing an additional 145,780 shares in the last quarter. Institutional investors own 92.71% 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 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.