Sanmina (NASDAQ:SANM) Lifted to “B-” at TheStreet

Sanmina (NASDAQ:SANM) was upgraded by research analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued on Tuesday, April 30th, TheStreetRatingsTable reports.

Several other analysts have also recently commented on the stock. BidaskClub cut shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Royal Bank of Canada upped their target price on shares of Sanmina to $33.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $34.00.

Sanmina stock traded down $1.70 during mid-day trading on Tuesday, hitting $29.73. The stock had a trading volume of 449,600 shares, compared to its average volume of 464,793. The company has a market capitalization of $2.15 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.86 and a beta of 1.12. Sanmina has a one year low of $22.30 and a one year high of $34.71.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, April 29th. The electronics maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.74 by $0.17. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Sanmina had a net margin of 1.48% and a return on equity of 13.48%. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. As a group, analysts anticipate that Sanmina will post 3.02 earnings per share for the current fiscal year.

In other Sanmina news, insider Jure Sola sold 300,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $33.47, for a total value of $10,041,000.00. Following the transaction, the insider now directly owns 867,401 shares in the company, valued at approximately $29,031,911.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brent Billinger sold 1,500 shares of the company’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $32.79, for a total transaction of $49,185.00. Following the completion of the transaction, the senior vice president now owns 25,139 shares in the company, valued at $824,307.81. The disclosure for this sale can be found here. Insiders sold a total of 547,971 shares of company stock worth $18,025,372 over the last three months. 5.55% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of SANM. Oregon Public Employees Retirement Fund bought a new position in shares of Sanmina during the fourth quarter valued at approximately $26,000. Quadrant Capital Group LLC boosted its stake in shares of Sanmina by 639.2% during the first quarter. Quadrant Capital Group LLC now owns 2,166 shares of the electronics maker’s stock valued at $59,000 after purchasing an additional 1,873 shares in the last quarter. Investors Research Corp bought a new position in shares of Sanmina during the first quarter valued at approximately $61,000. Advisor Group Inc. boosted its stake in shares of Sanmina by 27.3% during the fourth quarter. Advisor Group Inc. now owns 3,358 shares of the electronics maker’s stock valued at $80,000 after purchasing an additional 721 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Sanmina during the first quarter valued at approximately $80,000. Institutional investors and hedge funds own 91.50% 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 segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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