Sanmina Corporation (NASDAQ:SANM) Upgraded at ValuEngine
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.
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