Sanmina (NASDAQ:SANM) Upgraded to Buy at StockNews.com

Sanmina (NASDAQ:SANMGet Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

SANM has been the subject of a number of other reports. Fox Advisors initiated coverage on Sanmina in a report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price target for the company. Craig Hallum reiterated a “hold” rating and issued a $62.00 target price on shares of Sanmina in a research note on Tuesday, April 30th.

Check Out Our Latest Report on Sanmina

Sanmina Price Performance

Shares of NASDAQ SANM traded up $0.93 during trading on Monday, hitting $67.69. 288,200 shares of the company were exchanged, compared to its average volume of 469,366. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.25. Sanmina has a 1 year low of $43.40 and a 1 year high of $69.69. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.45 and a beta of 1.01. The firm’s fifty day moving average price is $62.17 and its 200 day moving average price is $57.39.

Sanmina (NASDAQ:SANMGet Free Report) last released its quarterly earnings data 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 11.98%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The firm’s revenue was down 20.9% on a year-over-year basis. On average, sell-side analysts expect that Sanmina will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total transaction of $230,837.04. Following the completion of the sale, the executive vice president now directly owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of Sanmina stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total value of $230,837.04. Following the transaction, the executive vice president now directly owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene A. Delaney sold 7,181 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $64.91, for a total transaction of $466,118.71. Following the sale, the director now directly owns 100,887 shares of the company’s stock, valued at approximately $6,548,575.17. The disclosure for this sale can be found here. Insiders have sold a total of 11,103 shares of company stock valued at $720,600 over the last quarter. Company insiders own 3.09% of the company’s stock.

Hedge Funds Weigh In On Sanmina

Several hedge funds and other institutional investors have recently made changes to their positions in SANM. Principal Securities Inc. purchased a new position in Sanmina in the fourth quarter valued at about $64,000. Delta Asset Management LLC TN purchased a new stake in shares of Sanmina during the 4th quarter valued at about $85,000. Quest Partners LLC acquired a new position in Sanmina during the 4th quarter worth approximately $126,000. Blue Trust Inc. lifted its position in Sanmina by 21.2% during the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after acquiring an additional 428 shares in the last quarter. Finally, CI Investments Inc. boosted its holdings in Sanmina by 3,686.4% in the 3rd quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock worth $166,000 after acquiring an additional 2,986 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Sanmina Company Profile

(Get Free Report)

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.

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