Sanmina Co. (SANM) Receives $33.67 Average Target Price from Analysts

Sanmina Co. (NASDAQ:SANM) has received an average rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.67.

SANM has been the subject of a number of research reports. Needham & Company LLC lowered their price objective on Sanmina to $33.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. TheStreet lowered Sanmina from a “b” rating to a “c+” rating in a research report on Monday, January 22nd. Royal Bank of Canada lowered their price objective on Sanmina to $31.00 and set a “sector perform” rating for the company in a research report on Monday, January 22nd. BidaskClub lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Finally, Craig Hallum reiterated a “buy” rating and issued a $37.00 price objective (down from $44.00) on shares of Sanmina in a research report on Tuesday, January 23rd.

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In other Sanmina news, Director Joseph G. Licata, Jr. sold 18,444 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $27.49, for a total transaction of $507,025.56. Following the transaction, the director now owns 48,787 shares in the company, valued at $1,341,154.63. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Brent Billinger acquired 1,500 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were acquired at an average price of $26.33 per share, for a total transaction of $39,495.00. Following the acquisition, the senior vice president now directly owns 18,004 shares in the company, valued at $474,045.32. The disclosure for this purchase can be found here. 5.12% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Sanmina by 4.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 453,227 shares of the electronics maker’s stock valued at $16,838,000 after purchasing an additional 19,892 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Sanmina by 55.5% during the 3rd quarter. Royce & Associates LP now owns 781,567 shares of the electronics maker’s stock valued at $29,035,000 after purchasing an additional 278,944 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of Sanmina by 31.6% during the 4th quarter. Pinebridge Investments L.P. now owns 114,492 shares of the electronics maker’s stock valued at $3,779,000 after purchasing an additional 27,523 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Sanmina by 209.3% during the 4th quarter. Arizona State Retirement System now owns 121,030 shares of the electronics maker’s stock valued at $3,994,000 after purchasing an additional 81,905 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Sanmina by 12.3% during the 4th quarter. Rhumbline Advisers now owns 182,075 shares of the electronics maker’s stock valued at $6,008,000 after purchasing an additional 19,979 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

Shares of SANM stock traded down $0.70 during mid-day trading on Wednesday, reaching $26.10. The company had a trading volume of 548,840 shares, compared to its average volume of 681,389. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.95 and a current ratio of 1.60. The firm has a market capitalization of $1,909.40, a price-to-earnings ratio of -27.47, a price-to-earnings-growth ratio of 1.30 and a beta of 0.63. Sanmina has a 1 year low of $24.60 and a 1 year high of $42.95.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, January 29th. The electronics maker reported $0.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.48. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. Sanmina had a positive return on equity of 11.61% and a negative net margin of 0.88%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. analysts expect that Sanmina will post 1.72 EPS for the current year.

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Sanmina Company Profile

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.

Analyst Recommendations for Sanmina (NASDAQ:SANM)

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