StockNews.com Upgrades Sanmina (NASDAQ:SANM) to Buy

Sanmina (NASDAQ:SANM) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Separately, Craig Hallum increased their price target on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th.

Sanmina Trading Down 0.1 %

Shares of SANM stock opened at $79.41 on Thursday. Sanmina has a fifty-two week low of $48.83 and a fifty-two week high of $86.05. The company has a 50 day moving average price of $71.02 and a 200 day moving average price of $69.04. The stock has a market capitalization of $4.34 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 2.05.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Equities research analysts predict that Sanmina will post 4.84 EPS for the current fiscal year.

Institutional Trading of Sanmina

Institutional investors have recently bought and sold shares of the business. UniSuper Management Pty Ltd purchased a new stake in shares of Sanmina during the 1st quarter worth approximately $741,000. Janus Henderson Group PLC boosted its stake in Sanmina by 64.8% in the first quarter. Janus Henderson Group PLC now owns 134,807 shares of the electronics maker’s stock valued at $8,381,000 after acquiring an additional 52,995 shares in the last quarter. Atria Investments Inc purchased a new position in shares of Sanmina during the first quarter worth about $1,005,000. Oppenheimer Asset Management Inc. increased its position in shares of Sanmina by 40.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,692 shares of the electronics maker’s stock worth $2,298,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Caxton Associates LP increased its position in shares of Sanmina by 365.9% during the second quarter. Caxton Associates LP now owns 22,276 shares of the electronics maker’s stock worth $1,476,000 after purchasing an additional 17,495 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Company Profile

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.