Sanmina Corporation’s (SANM) Buy Rating Reiterated at Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Sanmina Corporation (NASDAQ:SANM) in a report issued on Tuesday morning. Needham & Company LLC currently has a $45.00 price target on the electronics maker’s stock.
SANM has been the topic of a number of other research reports. Royal Bank Of Canada restated a sector perform rating and issued a $42.00 price target (up previously from $39.00) on shares of Sanmina Corporation in a research note on Tuesday, April 25th. Bank of America Corporation restated a buy rating and issued a $48.00 price target on shares of Sanmina Corporation in a research note on Thursday, June 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $42.80.
Shares of Sanmina Corporation (NASDAQ SANM) traded down 1.65% during trading on Tuesday, reaching $35.85. 712,236 shares of the company were exchanged. The company has a 50 day moving average price of $38.78 and a 200-day moving average price of $38.55. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 13.09 and a beta of 0.79. Sanmina Corporation has a one year low of $24.99 and a one year high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last posted its quarterly earnings results on Monday, July 24th. The electronics maker reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by $0.01. Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company posted $0.63 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. Equities analysts predict that Sanmina Corporation will post $3.01 EPS for the current year.
In related news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $37.97, for a total value of $379,700.00. Following the sale, the vice president now owns 210,000 shares in the company, valued at approximately $7,973,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 30,000 shares of company stock worth $1,134,700. 4.96% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of SANM. LS Investment Advisors LLC boosted its position in Sanmina Corporation by 4.1% in the second quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock valued at $133,000 after buying an additional 138 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Sanmina Corporation during the second quarter valued at $203,000. Nisa Investment Advisors LLC boosted its position in Sanmina Corporation by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after buying an additional 200 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Sanmina Corporation during the first quarter valued at $209,000. Finally, Menta Capital LLC purchased a new position in Sanmina Corporation during the first quarter valued at $219,000. 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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