Zacks Investment Research upgraded shares of Sanmina Corporation (NASDAQ:SANM) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California. “

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada decreased their price objective on Sanmina Corporation from $42.00 to $40.00 and set a sector perform rating on the stock in a report on Tuesday, July 25th. ValuEngine raised Sanmina Corporation from a hold rating to a buy rating in a research note on Thursday, July 27th. Needham & Company LLC reaffirmed a buy rating and issued a $45.00 price target on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Finally, Bank of America Corporation reaffirmed a buy rating and issued a $48.00 price target on shares of Sanmina Corporation in a research note on Thursday, June 15th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Sanmina Corporation presently has an average rating of Buy and a consensus price target of $42.80.

Shares of Sanmina Corporation (SANM) opened at 37.65 on Tuesday. The stock has a 50 day moving average of $37.20 and a 200-day moving average of $38.29. Sanmina Corporation has a 12 month low of $26.27 and a 12 month high of $42.95. The company has a market cap of $2.84 billion, a PE ratio of 13.75 and a beta of 0.78.

Sanmina Corporation (NASDAQ:SANM) last issued its earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by $0.01. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts forecast that Sanmina Corporation will post $3.01 earnings per share for the current year.

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In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $36.95, for a total value of $369,500.00. Following the completion of the sale, the vice president now owns 190,000 shares in the company, valued at $7,020,500. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.96% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in SANM. BlackRock Inc. raised its position in Sanmina Corporation by 20,899.1% in the first quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock worth $449,352,000 after buying an additional 11,015,080 shares during the period. Vanguard Group Inc. raised its position in shares of Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock worth $293,059,000 after buying an additional 548,729 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sanmina Corporation by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock worth $241,823,000 after buying an additional 65,223 shares during the last quarter. LSV Asset Management raised its position in shares of Sanmina Corporation by 2.5% in the second quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock worth $142,169,000 after buying an additional 91,300 shares during the last quarter. Finally, State Street Corp raised its position in shares of Sanmina Corporation by 3.6% in the second quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock worth $73,977,000 after buying an additional 67,853 shares during the last quarter. 92.79% of the stock is owned by hedge funds and other institutional investors.

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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