Bank of America Corporation Reaffirms “Buy” Rating for Sanmina Corporation (SANM)

Bank of America Corporation reissued their buy rating on shares of Sanmina Corporation (NASDAQ:SANM) in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has a $48.00 price target on the electronics maker’s stock.

A number of other research firms have also commented on SANM. Needham & Company LLC restated a buy rating and issued a $45.00 price target on shares of Sanmina Corporation in a research report on Tuesday, April 25th. Royal Bank Of Canada restated a sector perform rating and issued a $42.00 price target (up from $39.00) on shares of Sanmina Corporation in a research report on Tuesday, April 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $39.71.

Sanmina Corporation (SANM) opened at 37.90 on Thursday. The stock has a market capitalization of $2.86 billion, a PE ratio of 14.23 and a beta of 0.86. Sanmina Corporation has a 52-week low of $23.50 and a 52-week high of $41.25. The firm has a 50-day moving average of $37.21 and a 200-day moving average of $37.96.

Sanmina Corporation (NASDAQ:SANM) last issued its earnings results on Monday, April 24th. The electronics maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. Sanmina Corporation had a net margin of 3.07% and a return on equity of 11.81%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. On average, equities analysts expect that Sanmina Corporation will post $3.05 EPS for the current year.

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In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $37.97, for a total value of $379,700.00. Following the transaction, the vice president now directly owns 210,000 shares in the company, valued at $7,973,700. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 30,000 shares of company stock worth $1,150,500. Company insiders own 4.96% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SANM. BlackRock Inc. raised its position in Sanmina Corporation by 20,899.1% in the first quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock worth $449,352,000 after buying an additional 11,015,080 shares during the period. Vanguard Group Inc. increased its position in shares of Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock worth $293,059,000 after buying an additional 548,729 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sanmina Corporation by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,281,827 shares of the electronics maker’s stock worth $255,042,000 after buying an additional 35,365 shares in the last quarter. LSV Asset Management increased its position in shares of Sanmina Corporation by 2.4% in the first quarter. LSV Asset Management now owns 3,640,189 shares of the electronics maker’s stock worth $147,791,000 after buying an additional 86,294 shares in the last quarter. Finally, State Street Corp increased its position in shares of Sanmina Corporation by 1.9% in the first quarter. State Street Corp now owns 1,873,742 shares of the electronics maker’s stock worth $76,073,000 after buying an additional 35,137 shares in the last quarter. Hedge funds and other institutional investors own 94.15% of the company’s stock.

About Sanmina Corporation

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SANM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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