Sanmina (NASDAQ:SANM) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Sanmina (NASDAQ:SANMFree Report) from a hold rating to a buy rating in a research note released on Monday morning.

Several other brokerages have also issued reports on SANM. Fox Advisors started coverage on Sanmina in a research note on Wednesday, March 6th. They set an overweight rating and a $80.00 price target on the stock. Craig Hallum reiterated a hold rating and issued a $62.00 price objective on shares of Sanmina in a research note on Tuesday, April 30th.

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Sanmina Price Performance

Shares of NASDAQ:SANM opened at $68.61 on Monday. Sanmina has a fifty-two week low of $43.40 and a fifty-two week high of $69.69. The business has a 50-day moving average of $62.62 and a two-hundred day moving average of $57.68. The stock has a market capitalization of $3.83 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.45 and a beta of 1.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.25.

Sanmina (NASDAQ:SANMGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.21. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. The firm’s revenue was down 20.9% compared to the same quarter last year. On average, equities research analysts predict that Sanmina will post 4.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sanmina news, EVP Alan Mcwilliams Reid sold 3,528 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total transaction of $230,837.04. Following the transaction, the executive vice president now owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total value of $230,837.04. Following the transaction, the executive vice president now owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eugene A. Delaney sold 7,181 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the completion of the transaction, the director now directly owns 100,887 shares in the company, valued at approximately $6,548,575.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,103 shares of company stock valued at $720,600. 3.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Sanmina

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in shares of Sanmina by 75.9% in the 4th quarter. BNP Paribas Financial Markets now owns 88,207 shares of the electronics maker’s stock valued at $4,531,000 after buying an additional 38,047 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Sanmina by 49.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 115,653 shares of the electronics maker’s stock valued at $5,941,000 after buying an additional 38,286 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Sanmina by 86.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 71,294 shares of the electronics maker’s stock worth $3,870,000 after purchasing an additional 32,998 shares in the last quarter. FMR LLC increased its holdings in Sanmina by 498.3% during the 3rd quarter. FMR LLC now owns 489,308 shares of the electronics maker’s stock worth $26,560,000 after purchasing an additional 407,528 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Sanmina by 19.1% during the 3rd quarter. Sei Investments Co. now owns 256,717 shares of the electronics maker’s stock worth $13,935,000 after purchasing an additional 41,216 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

About Sanmina

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Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.

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