Brokerages Set Sanmina Corporation (SANM) PT at $43.25
Shares of Sanmina Corporation (NASDAQ:SANM) have received an average rating of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $43.25.
SANM has been the topic of a number of recent research reports. Bank of America Corporation reiterated a “buy” rating and issued a $48.00 price objective on shares of Sanmina Corporation in a research report on Thursday, June 15th. Royal Bank Of Canada dropped their target price on Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 25th. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Sanmina Corporation in a research report on Tuesday, July 25th. ValuEngine raised Sanmina Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered Sanmina Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th.
Shares of Sanmina Corporation (NASDAQ:SANM) traded up 3.90% during midday trading on Wednesday, reaching $38.60. The company had a trading volume of 373,333 shares. The firm’s 50 day moving average price is $36.71 and its 200-day moving average price is $37.85. Sanmina Corporation has a 12 month low of $26.70 and a 12 month high of $42.95. The company has a market capitalization of $2.91 billion, a P/E ratio of 14.14 and a beta of 0.79.
Sanmina Corporation (NASDAQ:SANM) last posted its quarterly earnings data on Monday, July 24th. The electronics maker reported $0.74 earnings per share for the quarter, missing the 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 company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts anticipate that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.
Sanmina Corporation declared that its board has authorized a stock repurchase plan on Monday, September 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 77% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total transaction of $372,100.00. Following the transaction, the vice president now owns 180,000 shares in the company, valued at $6,697,800. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.96% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Sanmina Corporation by 20,899.1% in the 1st quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock valued at $449,352,000 after acquiring an additional 11,015,080 shares during the period. Vanguard Group Inc. boosted its stake in Sanmina Corporation by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock worth $293,059,000 after acquiring an additional 548,729 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Sanmina Corporation by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock worth $241,823,000 after acquiring an additional 65,223 shares during the last quarter. LSV Asset Management boosted its stake in Sanmina Corporation by 2.5% during the 2nd quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock worth $142,169,000 after acquiring an additional 91,300 shares during the last quarter. Finally, State Street Corp boosted its stake in Sanmina Corporation by 3.6% during the 2nd quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock worth $73,977,000 after acquiring an additional 67,853 shares during the last quarter. 92.76% of the stock is owned by 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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