Sanmina Corp. (SANM) Given Consensus Rating of “Hold” by Brokerages
Sanmina Corp. (NASDAQ:SANM) has received an average recommendation of “Hold” from the ten ratings firms that are covering the company. Six investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $29.43.
Several equities research analysts recently weighed in on SANM shares. Zacks Investment Research upgraded shares of Sanmina Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, November 10th. B. Riley reiterated a “buy” rating and set a $31.00 price objective on shares of Sanmina Corp. in a research note on Saturday, November 5th. Needham & Company LLC increased their price objective on shares of Sanmina Corp. from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. Finally, Cross Research lowered shares of Sanmina Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 31st.
Shares of Sanmina Corp. (NASDAQ:SANM) traded up 0.15% during midday trading on Monday, hitting $33.20. The stock had a trading volume of 242,296 shares. The company has a market cap of $2.44 billion, a P/E ratio of 13.95 and a beta of 1.18. The firm has a 50 day moving average of $29.40 and a 200-day moving average of $27.57. Sanmina Corp. has a one year low of $16.31 and a one year high of $33.65.
Sanmina Corp. (NASDAQ:SANM) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.67 by $0.05. Sanmina Corp. had a net margin of 2.90% and a return on equity of 11.73%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts forecast that Sanmina Corp. will post $2.74 earnings per share for the current fiscal year.
In related news, Director Neil R. Bonke sold 23,933 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $28.70, for a total transaction of $686,877.10. Following the transaction, the director now owns 24,982 shares in the company, valued at $716,983.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jackie M. Ward sold 19,387 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $31.70, for a total transaction of $614,567.90. Following the transaction, the director now owns 173,846 shares in the company, valued at approximately $5,510,918.20. The disclosure for this sale can be found here. 4.59% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Citizens Bank & Trust Co. bought a new position in Sanmina Corp. during the second quarter worth approximately $471,000. Artemis Investment Management LLP raised its position in Sanmina Corp. by 109.4% in the second quarter. Artemis Investment Management LLP now owns 809,290 shares of the company’s stock worth $21,693,000 after buying an additional 422,890 shares in the last quarter. Bank of Montreal Can bought a new position in Sanmina Corp. during the second quarter worth approximately $5,120,000. Meeder Asset Management Inc. raised its position in Sanmina Corp. by 48.5% in the second quarter. Meeder Asset Management Inc. now owns 26,668 shares of the company’s stock worth $713,000 after buying an additional 8,708 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new position in Sanmina Corp. during the second quarter worth approximately $458,000. Institutional investors and hedge funds own 92.77% of the company’s stock.
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Sanmina Corp. Company Profile
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries.
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