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.
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.
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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