Sanmina (NASDAQ:SANM) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Sanmina (NASDAQ:SANM) from a hold rating to a buy rating in a research note released on Thursday morning.

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

Sanmina Stock Performance

NASDAQ:SANM opened at $79.52 on Thursday. The firm has a 50-day moving average of $71.02 and a two-hundred day moving average of $69.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.05 and a quick ratio of 1.32. The stock has a market cap of $4.35 billion, a P/E ratio of 20.34, a PEG ratio of 1.30 and a beta of 0.89. Sanmina has a 1-year low of $48.83 and a 1-year high of $86.05.

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

Institutional Trading of Sanmina

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Sanmina in the 3rd quarter valued at about $311,000. Geode Capital Management LLC lifted its holdings in Sanmina by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after acquiring an additional 35,622 shares during the last quarter. Barclays PLC boosted its stake in Sanmina by 296.3% in the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock valued at $6,358,000 after acquiring an additional 69,431 shares during the period. Weiss Asset Management LP grew its holdings in shares of Sanmina by 590.7% during the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock valued at $26,090,000 after purchasing an additional 325,974 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Sanmina by 11.0% during the 3rd quarter. Quantinno Capital Management LP now owns 3,649 shares of the electronics maker’s stock worth $250,000 after purchasing an additional 362 shares during the period. Institutional investors own 92.71% of the company’s stock.

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.