Bank of America Raises Sanmina (NASDAQ:SANM) Price Target to $100.00

Sanmina (NASDAQ:SANM) had its price target raised by analysts at Bank of America from $95.00 to $100.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the electronics maker’s stock. Bank of America‘s price objective would indicate a potential upside of 13.29% from the company’s previous close.

Separately, Wall Street Zen raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 24th.

Sanmina Stock Up 0.4%

NASDAQ SANM opened at $88.27 on Monday. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. Sanmina has a 52 week low of $61.52 and a 52 week high of $91.12. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.29 and a beta of 1.14. The company has a fifty day moving average of $80.30 and a two-hundred day moving average of $80.26.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts predict that Sanmina will post 5.15 earnings per share for the current year.

Hedge Funds Weigh In On Sanmina

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Sanmina by 265.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 365 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 265 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Sanmina by 200.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 405 shares of the electronics maker’s stock valued at $31,000 after buying an additional 270 shares in the last quarter. Banque Transatlantique SA purchased a new position in Sanmina in the first quarter worth $29,000. Quarry LP increased its position in shares of Sanmina by 5,883.3% during the first quarter. Quarry LP now owns 718 shares of the electronics maker’s stock worth $55,000 after purchasing an additional 706 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Sanmina during the 1st quarter valued at $90,000. 92.71% of the stock is currently owned by institutional investors.

About Sanmina

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.