Published On: Mon, Sep 19th, 2016

Sanmina Corp. (SANM) Rating Reiterated by Argus

Sanmina Corp. (NASDAQ:SANM)‘s stock had its “buy” rating reaffirmed by stock analysts at Argus in a research report issued on Thursday. They presently have a $33.00 price objective on the stock. Argus’ price objective would suggest a potential upside of 19.74% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. RBC Capital Markets restated an “in-line” rating and issued a $29.00 price target on shares of Sanmina Corp. in a research report on Tuesday, July 26th. Zacks Investment Research cut Sanmina Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, March 30th. Needham & Company LLC restated a “buy” rating and issued a $32.00 price target (up previously from $27.00) on shares of Sanmina Corp. in a research report on Tuesday, May 31st. Royal Bank Of Canada boosted their price target on Sanmina Corp. from $22.00 to $25.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 26th. Finally, Craig Hallum cut Sanmina Corp. from a “buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.30.
Sanmina Corp. (NASDAQ:SANM) traded down 1.89% during trading on Thursday, hitting $27.56. The stock had a trading volume of 530,562 shares. Sanmina Corp. has a 12-month low of $16.31 and a 12-month high of $29.17. The stock’s 50 day moving average price is $26.22 and its 200 day moving average price is $25.16. The firm has a market cap of $2.04 billion, a P/E ratio of 5.48 and a beta of 1.52.

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Sanmina Corp. (NASDAQ:SANM) last issued its quarterly earnings results on Monday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Sanmina Corp. had a return on equity of 11.53% and a net margin of 6.24%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, analysts anticipate that Sanmina Corp. will post $2.50 EPS for the current fiscal year.
In other news, Director John Goldsberry sold 13,178 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $26.59, for a total transaction of $350,403.02. Following the sale, the director now owns 29,505 shares of the company’s stock, valued at approximately $784,537.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jure Sola sold 58,531 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $26.25, for a total value of $1,536,438.75. Following the sale, the chairman now directly owns 392,686 shares in the company, valued at approximately $10,308,007.50. The disclosure for this sale can be found here. Company insiders own 4.59% of the company’s stock.
Several large investors have recently made changes to their positions in SANM. Dimensional Fund Advisors LP raised its stake in shares of Sanmina Corp. by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,830,810 shares of the company’s stock valued at $140,579,000 after buying an additional 67,813 shares during the period. LSV Asset Management raised its stake in shares of Sanmina Corp. by 51.8% in the second quarter. LSV Asset Management now owns 2,927,800 shares of the company’s stock valued at $78,494,000 after buying an additional 998,902 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Sanmina Corp. by 22.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,515,791 shares of the company’s stock valued at $67,448,000 after buying an additional 463,727 shares during the period. State Street Corp raised its stake in shares of Sanmina Corp. by 3.9% in the first quarter. State Street Corp now owns 1,667,404 shares of the company’s stock valued at $38,983,000 after buying an additional 62,759 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Sanmina Corp. by 19.1% in the first quarter. Prudential Financial Inc. now owns 1,498,419 shares of the company’s stock valued at $35,033,000 after buying an additional 240,010 shares during the period. 94.79% of the stock is currently owned by institutional investors and hedge funds.
About Sanmina Corp.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries.

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