BidaskClub cut shares of Sanmina (NASDAQ:SANM) from a hold rating to a sell rating in a research report sent to investors on Saturday.
A number of other equities research analysts also recently issued reports on SANM. ValuEngine downgraded shares of Sanmina from a hold rating to a sell rating in a research note on Friday, May 18th. Citigroup boosted their price target on shares of Sanmina from $33.00 to $35.00 and gave the company a buy rating in a research note on Tuesday, July 31st. Finally, Zacks Investment Research downgraded shares of Sanmina from a hold rating to a sell rating in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $35.75.
Sanmina stock opened at $29.65 on Friday. The company has a market capitalization of $2.02 billion, a PE ratio of 14.28, a P/E/G ratio of 1.47 and a beta of 0.48. Sanmina has a 1 year low of $24.60 and a 1 year high of $39.40. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.01.
Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 30th. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Sanmina had a negative net margin of 1.01% and a positive return on equity of 10.28%. Sanmina’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. research analysts forecast that Sanmina will post 1.68 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. First Mercantile Trust Co. purchased a new stake in Sanmina during the 1st quarter worth approximately $110,000. Adviser Investments LLC purchased a new stake in Sanmina during the 1st quarter worth approximately $110,000. Vigilant Capital Management LLC purchased a new stake in Sanmina during the 2nd quarter worth approximately $147,000. Sun Life Financial INC purchased a new stake in Sanmina during the 2nd quarter worth approximately $170,000. Finally, Trexquant Investment LP purchased a new stake in Sanmina during the 2nd quarter worth approximately $204,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.
Sanmina Company Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. The company offers product design and engineering solutions, 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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