Sanmina Corporation (NASDAQ:SANM)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Wednesday. They currently have a $45.00 price objective on the electronics maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 16.13% from the stock’s previous close.

Several other analysts have also recently commented on SANM. ValuEngine cut shares of Sanmina Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday. Zacks Investment Research raised shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Royal Bank Of Canada decreased their price target on shares of Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 25th. Finally, Bank of America Corporation reissued a “buy” rating and set a $48.00 price target on shares of Sanmina Corporation in a research note on Thursday, June 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $43.25.

Shares of Sanmina Corporation (NASDAQ SANM) traded down 0.77% during midday trading on Wednesday, reaching $38.45. The company had a trading volume of 211,191 shares. 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 $2.90 billion, a P/E ratio of 14.04 and a beta of 0.79. The firm’s 50 day moving average price is $36.89 and its 200-day moving average price is $37.85.

Sanmina Corporation (NASDAQ:SANM) last released its quarterly 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 net margin of 3.15% and a return on equity of 12.35%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned $0.63 earnings per share. Sanmina Corporation’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts anticipate that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.

Sanmina Corporation declared that its Board of Directors has authorized a stock buyback plan on Monday, September 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the electronics maker to purchase up to 77% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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In related news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $37.21, for a total value of $372,100.00. Following the transaction, the vice president now directly owns 180,000 shares in the company, valued at $6,697,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.96% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SANM. Karp Capital Management Corp acquired a new position in Sanmina Corporation in the first quarter valued at approximately $1,308,000. Mason Street Advisors LLC lifted its holdings in Sanmina Corporation by 8.3% in the first quarter. Mason Street Advisors LLC now owns 17,372 shares of the electronics maker’s stock valued at $705,000 after buying an additional 1,328 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Sanmina Corporation by 442.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,425 shares of the electronics maker’s stock valued at $1,357,000 after buying an additional 27,262 shares during the period. Stifel Financial Corp lifted its holdings in Sanmina Corporation by 26.9% in the first quarter. Stifel Financial Corp now owns 7,412 shares of the electronics maker’s stock valued at $301,000 after buying an additional 1,571 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Sanmina Corporation by 3,066.6% in the first quarter. Victory Capital Management Inc. now owns 99,939 shares of the electronics maker’s stock valued at $4,058,000 after buying an additional 96,783 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

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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