Sanmina (NASDAQ:SANM) Upgraded to Buy at StockNews.com

Sanmina (NASDAQ:SANM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

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

Sanmina Stock Performance

NASDAQ:SANM opened at $83.88 on Thursday. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.58 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. Sanmina has a twelve month low of $43.40 and a twelve month high of $86.05. The stock’s 50-day simple moving average is $68.13 and its 200 day simple moving average is $67.71.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.52%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. On average, analysts anticipate that Sanmina will post 5.07 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jure Sola sold 82,328 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the completion of the transaction, the chief executive officer now owns 1,198,594 shares of the company’s stock, valued at approximately $83,506,043.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sanmina

Institutional investors have recently made changes to their positions in the stock. Royce & Associates LP lifted its stake in shares of Sanmina by 36.7% in the third quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock worth $27,524,000 after acquiring an additional 107,906 shares during the period. Cornercap Investment Counsel Inc. bought a new position in Sanmina during the 3rd quarter worth approximately $519,000. Nicola Wealth Management LTD. boosted its stake in shares of Sanmina by 12.9% in the 3rd quarter. Nicola Wealth Management LTD. now owns 61,100 shares of the electronics maker’s stock valued at $4,182,000 after purchasing an additional 7,000 shares during the last quarter. KBC Group NV boosted its stake in shares of Sanmina by 25.5% in the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after purchasing an additional 368 shares during the last quarter. Finally, Empower Advisory Group LLC increased its position in shares of Sanmina by 1.0% during the third quarter. Empower Advisory Group LLC now owns 262,252 shares of the electronics maker’s stock worth $17,951,000 after buying an additional 2,567 shares during the period. Institutional investors own 92.71% of the company’s stock.

About Sanmina

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.