Sanmina (NASDAQ:SANM) Stock Rating Upgraded by StockNews.com

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 target price on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th.

Sanmina Stock Performance

SANM stock opened at $79.52 on Thursday. The company has a 50-day simple moving average of $71.02 and a 200 day simple moving average of $69.04. The company has a market capitalization of $4.35 billion, a P/E ratio of 20.34, a PEG ratio of 1.30 and a beta of 0.89. The company has a quick ratio of 1.32, a current ratio of 2.05 and a debt-to-equity ratio of 0.13. Sanmina has a fifty-two week low of $48.83 and a fifty-two week high of $86.05.

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

Institutional Investors Weigh In On Sanmina

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Sanmina by 107.5% in the first quarter. Russell Investments Group Ltd. now owns 37,341 shares of the electronics maker’s stock worth $2,322,000 after buying an additional 19,349 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Sanmina by 20.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,972 shares of the electronics maker’s stock worth $1,218,000 after acquiring an additional 3,394 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Sanmina by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker’s stock valued at $444,876,000 after acquiring an additional 45,918 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Sanmina by 2.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 21,369 shares of the electronics maker’s stock valued at $1,329,000 after acquiring an additional 594 shares during the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in shares of Sanmina in the 1st quarter valued at approximately $741,000. Institutional investors and hedge funds 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.