Sanmina (NASDAQ:SANM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Sanmina (NASDAQ:SANM) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California. “

Several other equities research analysts have also commented on the stock. Sidoti initiated coverage on shares of Sanmina in a research report on Wednesday, December 22nd. They set a buy rating and a $61.00 price target for the company. Bank of America lowered shares of Sanmina from a neutral rating to an underperform rating and reduced their price target for the company from $46.00 to $38.00 in a research report on Tuesday, November 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Sanmina presently has a consensus rating of Hold and an average target price of $49.20.

NASDAQ SANM opened at $40.76 on Wednesday. Sanmina has a 52 week low of $30.59 and a 52 week high of $43.63. The firm has a market capitalization of $2.62 billion, a P/E ratio of 10.19, a PEG ratio of 0.90 and a beta of 1.08. The company has a quick ratio of 1.27, a current ratio of 1.86 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $39.75 and a 200-day moving average price of $39.03.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Sunday, November 7th. The electronics maker reported $0.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.04). Sanmina had a net margin of 3.98% and a return on equity of 13.04%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the company earned $1.04 EPS. Sanmina’s revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Sanmina will post 3.73 EPS for the current year.

In related news, SVP Brent Billinger sold 1,260 shares of the stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $40.61, for a total value of $51,168.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SANM. Exchange Traded Concepts LLC increased its holdings in Sanmina by 1.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,008 shares of the electronics maker’s stock valued at $747,000 after acquiring an additional 288 shares during the last quarter. US Bancorp DE increased its holdings in shares of Sanmina by 70.2% in the second quarter. US Bancorp DE now owns 781 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 322 shares during the last quarter. CWM Advisors LLC lifted its position in shares of Sanmina by 3.1% in the second quarter. CWM Advisors LLC now owns 11,484 shares of the electronics maker’s stock worth $447,000 after buying an additional 348 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Sanmina by 0.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 64,286 shares of the electronics maker’s stock worth $2,478,000 after buying an additional 350 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in Sanmina by 0.8% during the second quarter. Ensign Peak Advisors Inc now owns 50,608 shares of the electronics maker’s stock valued at $1,972,000 after buying an additional 400 shares during the last quarter. 94.20% of the stock is owned by institutional investors.

About Sanmina

Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It operates through the following segments: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The IMS segment consists of printed circuit board assembly and test, final system assembly and test and direct-order-fulfillment.

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