Craig Hallum Forecasts Strong Price Appreciation for Sanmina (NASDAQ:SANM) Stock

Sanmina (NASDAQ:SANM) had its price target hoisted by stock analysts at Craig Hallum from $62.00 to $69.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the electronics maker’s stock. Craig Hallum’s target price would indicate a potential downside of 17.74% from the stock’s previous close.

Separately, StockNews.com lowered Sanmina from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Sanmina Stock Up 12.7 %

Shares of NASDAQ SANM opened at $83.88 on Tuesday. Sanmina has a 1 year low of $43.40 and a 1 year high of $86.05. The firm’s 50-day moving average is $68.13 and its 200-day moving average is $67.71. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.58 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.52%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Equities analysts expect that Sanmina will post 5.07 EPS for the current year.

Insider Activity

In related news, CEO Jure Sola sold 82,328 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the sale, the chief executive officer now owns 1,198,594 shares of the company’s stock, valued at approximately $83,506,043.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.09% of the stock is owned by company insiders.

Institutional Trading of Sanmina

A number of large investors have recently bought and sold shares of SANM. Royce & Associates LP increased its position in shares of Sanmina by 36.7% during the third quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock worth $27,524,000 after acquiring an additional 107,906 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in Sanmina during the 3rd quarter worth about $519,000. Nicola Wealth Management LTD. raised its stake in shares of Sanmina by 12.9% in the 3rd quarter. Nicola Wealth Management LTD. now owns 61,100 shares of the electronics maker’s stock valued at $4,182,000 after purchasing an additional 7,000 shares during the period. KBC Group NV lifted its holdings in shares of Sanmina by 25.5% in the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after purchasing an additional 368 shares in the last quarter. Finally, Empower Advisory Group LLC boosted its position in shares of Sanmina by 1.0% during the third quarter. Empower Advisory Group LLC now owns 262,252 shares of the electronics maker’s stock worth $17,951,000 after buying an additional 2,567 shares during the period. 92.71% of the stock is owned by 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.