Sanmina (NASDAQ:SANM) Stock Price Crosses Above 200-Day Moving Average of $59.42

Sanmina Co. (NASDAQ:SANM)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $59.42 and traded as high as $68.50. Sanmina shares last traded at $67.60, with a volume of 328,946 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com raised Sanmina from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Fox Advisors assumed coverage on shares of Sanmina in a report on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Craig Hallum reiterated a “hold” rating and issued a $62.00 price target on shares of Sanmina in a research note on Tuesday, April 30th.

Sanmina Stock Performance

The firm has a market capitalization of $3.77 billion, a PE ratio of 15.98, a P/E/G ratio of 1.45 and a beta of 0.95. The business has a 50-day simple moving average of $64.39 and a 200-day simple moving average of $59.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.25.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.21. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The company’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 earnings per share. Equities research analysts expect that Sanmina Co. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total value of $230,837.04. Following the completion of the sale, the executive vice president now owns 37,651 shares in the company, valued at approximately $2,463,504.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total transaction of $230,837.04. Following the sale, the executive vice president now directly owns 37,651 shares of the company’s stock, valued at $2,463,504.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eugene A. Delaney sold 7,181 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $64.91, for a total value of $466,118.71. Following the completion of the transaction, the director now owns 100,887 shares of the company’s stock, valued at approximately $6,548,575.17. The disclosure for this sale can be found here. 3.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sanmina

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Sanmina during the 4th quarter valued at approximately $21,836,000. FMR LLC raised its holdings in shares of Sanmina by 498.3% during the third quarter. FMR LLC now owns 489,308 shares of the electronics maker’s stock worth $26,560,000 after purchasing an additional 407,528 shares during the last quarter. Invenomic Capital Management LP acquired a new position in Sanmina during the fourth quarter valued at $12,174,000. Earnest Partners LLC grew its position in Sanmina by 19.1% during the 3rd quarter. Earnest Partners LLC now owns 1,182,552 shares of the electronics maker’s stock worth $64,189,000 after purchasing an additional 189,832 shares during the period. Finally, Global Alpha Capital Management Ltd. raised its stake in shares of Sanmina by 27.4% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 677,891 shares of the electronics maker’s stock valued at $34,823,000 after buying an additional 145,780 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.