Shares of Sanmina Corp (NASDAQ:SANM) have been assigned an average rating of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $35.75.
A number of analysts have recently issued reports on SANM shares. Citigroup raised their price target on shares of Sanmina from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Sanmina from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Finally, BidaskClub downgraded shares of Sanmina from a “hold” rating to a “sell” rating in a report on Saturday.
A number of institutional investors have recently bought and sold shares of SANM. Victory Capital Management Inc. increased its holdings in Sanmina by 21,142.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,045,356 shares of the electronics maker’s stock valued at $27,336,000 after purchasing an additional 1,040,435 shares during the last quarter. Matarin Capital Management LLC purchased a new position in Sanmina in the 1st quarter valued at approximately $10,729,000. UBS Group AG boosted its position in Sanmina by 446.3% in the 1st quarter. UBS Group AG now owns 426,383 shares of the electronics maker’s stock valued at $11,150,000 after buying an additional 348,330 shares during the period. BlackRock Inc. boosted its position in Sanmina by 2.5% in the 2nd quarter. BlackRock Inc. now owns 9,526,317 shares of the electronics maker’s stock valued at $279,120,000 after buying an additional 235,796 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its position in Sanmina by 10.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,467,766 shares of the electronics maker’s stock valued at $72,306,000 after buying an additional 227,556 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.
Shares of NASDAQ SANM traded down $0.40 during midday trading on Wednesday, reaching $29.25. 5,809 shares of the stock were exchanged, compared to its average volume of 196,820. The company has a market capitalization of $2.02 billion, a P/E ratio of 10.29, a P/E/G ratio of 1.47 and a beta of 0.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.73. Sanmina has a twelve month low of $24.60 and a twelve month high of $39.40.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, July 30th. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.73 billion. Sanmina had a positive return on equity of 10.28% and a negative net margin of 1.01%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 EPS. research analysts expect that Sanmina will post 1.68 EPS for the current year.
Sanmina Company Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. The company offers product design and engineering solutions, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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