Sanmina (SANM) Lifted to “Buy” at Craig Hallum
SANM has been the topic of a number of other research reports. Zacks Investment Research raised Sanmina from a sell rating to a hold rating in a research note on Tuesday, August 29th. ValuEngine raised Sanmina from a buy rating to a strong-buy rating in a research note on Friday, September 1st. Needham & Company LLC reissued a buy rating and issued a $45.00 price objective on shares of Sanmina in a research note on Wednesday, October 4th. Argus lowered Sanmina from a buy rating to a hold rating in a research note on Thursday, November 2nd. Finally, Bank of America lowered Sanmina from a buy rating to a neutral rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Sanmina presently has an average rating of Hold and an average price target of $44.33.
Shares of Sanmina (NASDAQ:SANM) opened at $33.00 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.62 and a quick ratio of 0.97. The company has a market capitalization of $2,370.00, a price-to-earnings ratio of 12.25, a P/E/G ratio of 0.91 and a beta of 0.78. Sanmina has a one year low of $29.95 and a one year high of $42.95.
Sanmina declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 77% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Sanmina by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock valued at $241,823,000 after acquiring an additional 65,223 shares during the period. LSV Asset Management lifted its stake in shares of Sanmina by 2.5% during the second quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock valued at $142,169,000 after acquiring an additional 91,300 shares during the period. State Street Corp lifted its stake in shares of Sanmina by 3.6% during the second quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock valued at $73,977,000 after acquiring an additional 67,853 shares during the period. Earnest Partners LLC lifted its stake in shares of Sanmina by 1.6% during the second quarter. Earnest Partners LLC now owns 1,735,490 shares of the electronics maker’s stock valued at $66,122,000 after acquiring an additional 26,667 shares during the period. Finally, Ardevora Asset Management LLP lifted its stake in shares of Sanmina by 7.9% during the third quarter. Ardevora Asset Management LLP now owns 1,027,000 shares of the electronics maker’s stock valued at $38,153,000 after acquiring an additional 75,400 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.
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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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