ValuEngine upgraded shares of Sanmina Corporation (NASDAQ:SANM) from a hold rating to a buy rating in a report published on Thursday morning.

Several other equities research analysts also recently commented on the company. Needham & Company LLC restated a buy rating and set a $45.00 price objective on shares of Sanmina Corporation in a report on Tuesday, April 25th. Bank of America Corporation restated a buy rating and set a $48.00 price objective on shares of Sanmina Corporation in a report on Thursday, June 15th. Finally, Royal Bank Of Canada restated a sector perform rating and set a $42.00 price objective (up previously from $39.00) on shares of Sanmina Corporation in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $42.80.

Sanmina Corporation (NASDAQ SANM) opened at 35.85 on Thursday. The company has a market capitalization of $2.70 billion, a PE ratio of 13.09 and a beta of 0.79. The stock’s 50 day moving average is $38.78 and its 200 day moving average is $38.55. Sanmina Corporation has a 52 week low of $24.99 and a 52 week high of $42.95.

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

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In other news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $37.97, for a total transaction of $379,700.00. Following the completion of the sale, the vice president now owns 210,000 shares in the company, valued at $7,973,700. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 30,000 shares of company stock valued at $1,134,700. Corporate insiders own 4.96% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Sanmina Corporation by 329.8% in the fourth quarter. Renaissance Technologies LLC now owns 194,433 shares of the electronics maker’s stock valued at $7,126,000 after buying an additional 149,200 shares during the period. Two Sigma Investments LP bought a new stake in shares of Sanmina Corporation during the fourth quarter valued at about $549,000. Foundry Partners LLC increased its stake in shares of Sanmina Corporation by 14.5% in the first quarter. Foundry Partners LLC now owns 442,517 shares of the electronics maker’s stock valued at $17,966,000 after buying an additional 56,000 shares during the period. Regentatlantic Capital LLC bought a new stake in shares of Sanmina Corporation during the first quarter valued at about $322,000. Finally, Louisiana State Employees Retirement System increased its stake in shares of Sanmina Corporation by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 30,300 shares of the electronics maker’s stock valued at $1,230,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 95.40% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sanmina Corporation (NASDAQ:SANM)

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