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

StockNews.com upgraded shares of Sanmina (NASDAQ:SANMGet Rating) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.

Separately, Craig Hallum lifted their price target on shares of Sanmina from $65.00 to $70.00 and gave the stock a buy rating in a research note on Tuesday.

Sanmina Stock Performance

NASDAQ:SANM opened at $49.90 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.96 and a beta of 0.99. The firm’s fifty day simple moving average is $43.04 and its 200 day simple moving average is $41.10. Sanmina has a twelve month low of $35.06 and a twelve month high of $50.36.

Sanmina (NASDAQ:SANMGet Rating) last posted its earnings results on Monday, August 1st. The electronics maker reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.19. Sanmina had a net margin of 3.38% and a return on equity of 13.67%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities research analysts expect that Sanmina will post 4.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanmina

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SANM. Confluence Wealth Services Inc. bought a new stake in shares of Sanmina in the 4th quarter worth about $26,000. Fifth Third Bancorp increased its position in shares of Sanmina by 122.4% in the 2nd quarter. Fifth Third Bancorp now owns 636 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 350 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Sanmina in the 4th quarter worth about $29,000. Quadrant Capital Group LLC increased its position in shares of Sanmina by 37.9% in the 1st quarter. Quadrant Capital Group LLC now owns 927 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 255 shares during the last quarter. Finally, Covestor Ltd bought a new stake in shares of Sanmina in the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 92.28% of the company’s stock.

About Sanmina

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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.

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