Royal Bank Of Canada Reiterates “Hold” Rating for Sanmina Corporation (SANM)
Royal Bank Of Canada reissued their hold rating on shares of Sanmina Corporation (NASDAQ:SANM) in a research note released on Friday. Royal Bank Of Canada currently has a $40.00 price objective on the electronics maker’s stock.
SANM has been the subject of several other research reports. Bank of America Corporation restated a buy rating and set a $48.00 target price on shares of Sanmina Corporation in a report on Thursday, June 15th. Needham & Company LLC restated a buy rating and set a $45.00 target price on shares of Sanmina Corporation in a report on Tuesday, July 25th. ValuEngine upgraded shares of Sanmina Corporation from a buy rating to a strong-buy rating in a report on Friday. Finally, Zacks Investment Research cut shares of Sanmina Corporation from a hold rating to a strong sell rating in a report on Friday, July 28th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $42.80.
Sanmina Corporation (NASDAQ:SANM) opened at 37.65 on Friday. The company has a market cap of $2.84 billion, a P/E ratio of 13.75 and a beta of 0.78. The stock’s 50 day moving average is $37.20 and its 200-day moving average is $38.29. Sanmina Corporation has a 12-month low of $26.27 and a 12-month high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last announced its earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.01. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts predict that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $36.95, for a total transaction of $369,500.00. Following the sale, the vice president now directly owns 190,000 shares of the company’s stock, valued at $7,020,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SANM. Russell Investments Group Ltd. raised its position in Sanmina Corporation by 40.7% during the first quarter. Russell Investments Group Ltd. now owns 227,700 shares of the electronics maker’s stock worth $9,244,000 after acquiring an additional 65,860 shares in the last quarter. Wells Fargo & Company MN raised its position in Sanmina Corporation by 2.1% during the first quarter. Wells Fargo & Company MN now owns 531,561 shares of the electronics maker’s stock worth $21,580,000 after acquiring an additional 10,862 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Sanmina Corporation during the first quarter worth $6,435,000. Tocqueville Asset Management L.P. raised its position in Sanmina Corporation by 11.8% during the first quarter. Tocqueville Asset Management L.P. now owns 7,057 shares of the electronics maker’s stock worth $287,000 after acquiring an additional 746 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Sanmina Corporation by 7.5% during the first quarter. Great West Life Assurance Co. Can now owns 103,202 shares of the electronics maker’s stock worth $4,184,000 after acquiring an additional 7,215 shares in the last quarter. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
About Sanmina Corporation
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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