Sanmina (NASDAQ:SANM) Upgraded at StockNews.com

StockNews.com upgraded shares of Sanmina (NASDAQ:SANM) from a buy rating to a strong-buy rating in a report published on Wednesday morning.

Several other equities research analysts have also commented on the stock. Bank of America raised shares of Sanmina from an “underperform” rating to a “neutral” rating and upped their price target for the company from $58.00 to $92.00 in a report on Wednesday. Craig Hallum upped their target price on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th.

Sanmina Trading Up 2.2 %

Shares of NASDAQ:SANM opened at $82.83 on Wednesday. The business has a 50-day moving average price of $79.19 and a 200-day moving average price of $73.34. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.41 and a beta of 0.91. Sanmina has a 52-week low of $57.28 and a 52-week high of $86.05. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. Sanmina’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. Equities analysts predict that Sanmina will post 4.84 EPS for the current year.

Sanmina announced that its Board of Directors has initiated a share buyback program on Monday, January 27th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Sanmina by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock worth $166,000 after acquiring an additional 125 shares during the period. Park Avenue Securities LLC raised its position in shares of Sanmina by 3.3% during the 4th quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker’s stock worth $303,000 after purchasing an additional 129 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after buying an additional 164 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Sanmina by 3.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,501 shares of the electronics maker’s stock worth $416,000 after buying an additional 185 shares during the last quarter. Finally, TFG Advisers LLC increased its stake in Sanmina by 4.8% during the 4th quarter. TFG Advisers LLC now owns 4,381 shares of the electronics maker’s stock worth $332,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

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.