Sanmina (NASDAQ:SANM) Upgraded at StockNews.com

StockNews.com upgraded shares of Sanmina (NASDAQ:SANM) from a hold rating to a buy rating in a report released on Thursday.

Separately, Craig Hallum boosted their target price on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th.

Sanmina Stock Down 0.2 %

Sanmina stock opened at $83.27 on Thursday. The company has a market capitalization of $4.55 billion, a P/E ratio of 21.30, a PEG ratio of 1.35 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.27 and a current ratio of 2.05. Sanmina has a fifty-two week low of $45.80 and a fifty-two week high of $86.05. The stock has a 50-day simple moving average of $68.68 and a 200-day simple moving average of $67.98.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 EPS. Equities research analysts expect that Sanmina will post 5.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. UniSuper Management Pty Ltd purchased a new stake in shares of Sanmina during the first quarter worth about $741,000. Janus Henderson Group PLC grew its stake in shares of Sanmina by 64.8% in the first quarter. Janus Henderson Group PLC now owns 134,807 shares of the electronics maker’s stock valued at $8,381,000 after buying an additional 52,995 shares in the last quarter. Global Alpha Capital Management Ltd. raised its holdings in shares of Sanmina by 10.2% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 747,191 shares of the electronics maker’s stock valued at $46,460,000 after buying an additional 69,300 shares during the period. Empowered Funds LLC lifted its position in shares of Sanmina by 53.4% during the first quarter. Empowered Funds LLC now owns 51,854 shares of the electronics maker’s stock worth $3,224,000 after purchasing an additional 18,061 shares in the last quarter. Finally, Atria Investments Inc purchased a new position in shares of Sanmina in the first quarter valued at $1,005,000. 92.71% of the stock is 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. 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.