Craig Hallum Reiterates “Hold” Rating for Sanmina (NASDAQ:SANM)

Craig Hallum reaffirmed their hold rating on shares of Sanmina (NASDAQ:SANM) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm currently has a $62.00 price target on the electronics maker’s stock.

Separately, Fox Advisors began coverage on Sanmina in a research report on Wednesday, March 6th. They set an overweight rating and a $80.00 price target on the stock.

Sanmina Stock Up 0.4 %

Shares of SANM stock traded up $0.27 during trading hours on Tuesday, hitting $61.76. 253,310 shares of the company were exchanged, compared to its average volume of 498,968. Sanmina has a 52 week low of $43.40 and a 52 week high of $69.69. The company has a current ratio of 2.00, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $61.38 and a two-hundred day moving average of $55.58. The company has a market capitalization of $3.51 billion, a PE ratio of 14.60, a PEG ratio of 0.90 and a beta of 1.01.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. Sanmina’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 EPS. Analysts anticipate that Sanmina will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $60.64, for a total value of $60,640.00. Following the sale, the director now owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.09% of the stock is currently owned by company insiders.

Institutional Trading of Sanmina

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Sanmina during the fourth quarter valued at $21,836,000. FMR LLC increased its position in shares of Sanmina by 498.3% during the third quarter. FMR LLC now owns 489,308 shares of the electronics maker’s stock worth $26,560,000 after acquiring an additional 407,528 shares in the last quarter. Invenomic Capital Management LP bought a new stake in Sanmina during the 4th quarter worth approximately $12,174,000. Earnest Partners LLC grew its holdings in Sanmina by 19.1% during the third quarter. Earnest Partners LLC now owns 1,182,552 shares of the electronics maker’s stock worth $64,189,000 after buying an additional 189,832 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. raised its position in Sanmina by 27.4% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 677,891 shares of the electronics maker’s stock valued at $34,823,000 after buying an additional 145,780 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.