Sanmina (NASDAQ:SANM) Upgraded at BidaskClub

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BidaskClub upgraded shares of Sanmina (NASDAQ:SANM) from a sell rating to a hold rating in a report published on Thursday morning, BidAskClub reports.

Separately, Zacks Investment Research raised shares of Sanmina from a sell rating to a hold rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $33.00.

Shares of SANM opened at $32.58 on Thursday. The stock has a market capitalization of $2.26 billion, a PE ratio of 17.71, a P/E/G ratio of 0.91 and a beta of 1.37. Sanmina has a 1 year low of $22.30 and a 1 year high of $34.71. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.14 and a current ratio of 1.64. The company’s 50-day simple moving average is $30.18 and its 200-day simple moving average is $30.28.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, July 29th. The electronics maker reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Sanmina had a net margin of 1.55% and a return on equity of 13.98%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, sell-side analysts predict that Sanmina will post 2.98 earnings per share for the current year.

In other news, SVP Brent Billinger sold 931 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $30.12, for a total transaction of $28,041.72. Following the sale, the senior vice president now owns 20,877 shares of the company’s stock, valued at $628,815.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.55% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Sanmina by 4.4% during the second quarter. BlackRock Inc. now owns 11,043,399 shares of the electronics maker’s stock worth $334,393,000 after purchasing an additional 467,702 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sanmina by 0.6% during the second quarter. Vanguard Group Inc. now owns 7,026,150 shares of the electronics maker’s stock worth $212,753,000 after buying an additional 44,305 shares during the period. Earnest Partners LLC increased its stake in shares of Sanmina by 1.2% during the second quarter. Earnest Partners LLC now owns 3,034,468 shares of the electronics maker’s stock worth $91,884,000 after buying an additional 36,179 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Sanmina during the second quarter worth approximately $38,749,000. Finally, Renaissance Technologies LLC increased its stake in shares of Sanmina by 13.2% during the second quarter. Renaissance Technologies LLC now owns 1,088,341 shares of the electronics maker’s stock worth $32,955,000 after buying an additional 126,800 shares during the period. 93.12% of the stock is currently owned by institutional investors and hedge funds.

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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