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.

TRADEMARK VIOLATION NOTICE: “Brokerages Set Sanmina Corporation (SANM) PT at $43.25” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/10/02/brokerages-set-sanmina-corporation-sanm-pt-at-43-25.html.

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.

Analyst Recommendations for Sanmina Corporation (NASDAQ:SANM)

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