Shares of Sanmina Corporation (NASDAQ:SANM) have received an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $42.50.
A number of equities analysts have commented on the stock. Bank of America cut shares of Sanmina from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Sanmina in a report on Wednesday, October 4th. ValuEngine lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $40.00 price objective on shares of Sanmina in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a report on Thursday, September 14th.
Institutional investors and hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC raised its holdings in Sanmina by 70.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after buying an additional 1,627 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Sanmina 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 buying an additional 200 shares during the last quarter. Advisory Services Network LLC bought a new stake in Sanmina during the 2nd quarter valued at $212,000. ETRADE Capital Management LLC bought a new stake in Sanmina during the 3rd quarter valued at $228,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Sanmina during the 2nd quarter valued at $229,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.
Sanmina (NASDAQ SANM) traded down $0.20 during mid-day trading on Monday, reaching $30.95. 540,500 shares of the company’s stock were exchanged, compared to its average volume of 559,382. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.24. Sanmina has a fifty-two week low of $30.80 and a fifty-two week high of $42.95. The stock has a market cap of $2,220.00, a PE ratio of 11.59, a PEG ratio of 0.86 and a beta of 0.78.
Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.12). Sanmina had a return on equity of 12.27% and a net margin of 2.02%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the firm earned $0.72 EPS. Sanmina’s quarterly revenue was up 5.4% on a year-over-year basis. sell-side analysts forecast that Sanmina will post 3 earnings per share for the current fiscal year.
Sanmina announced that its Board of Directors has authorized a share buyback program on Monday, September 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the electronics maker to purchase up to 77% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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Sanmina 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.
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