Sanmina Corporation (NASDAQ:SANM) was downgraded by stock analysts at Bank of America Corporation from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday.

SANM has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Sanmina Corporation in a report on Tuesday, July 25th. ValuEngine raised shares of Sanmina Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Sanmina Corporation in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $43.25.

Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.12). Sanmina Corporation had a return on equity of 12.27% and a net margin of 2.02%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the business earned $0.72 EPS. The firm’s revenue was up 5.4% on a year-over-year basis.

Sanmina Corporation declared that its Board of Directors has initiated a share buyback plan on Monday, September 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 77% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership 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 dated Monday, August 14th. The shares were sold at an average price of $36.95, for a total value of $369,500.00. Following the completion of the transaction, the vice president now owns 190,000 shares in the company, valued at approximately $7,020,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.96% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Affinity Investment Advisors LLC boosted its position in shares of Sanmina Corporation by 0.5% during the 2nd quarter. Affinity Investment Advisors LLC now owns 6,196 shares of the electronics maker’s stock valued at $236,000 after purchasing an additional 31 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Sanmina Corporation by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 9,654 shares of the electronics maker’s stock valued at $368,000 after purchasing an additional 116 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Sanmina Corporation by 4.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock valued at $133,000 after purchasing an additional 138 shares in the last quarter. Amalgamated Bank boosted its position in shares of Sanmina Corporation by 1.6% during the 2nd quarter. Amalgamated Bank now owns 10,104 shares of the electronics maker’s stock valued at $385,000 after purchasing an additional 158 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Sanmina Corporation by 3.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Sanmina Corporation Company Profile

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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