Brokerages Set Sanmina Corp (NASDAQ:SANM) PT at $33.50

Sanmina Corp (NASDAQ:SANM) has received an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $33.00.

A number of equities analysts recently issued reports on SANM shares. Zacks Investment Research cut shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub cut shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday. Finally, TheStreet cut shares of UDR from a “b” rating to a “c” rating in a research report on Tuesday, April 30th.

In other Sanmina news, insider Jure Sola sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $33.47, for a total transaction of $10,041,000.00. Following the sale, the insider now directly owns 867,401 shares of the company’s stock, valued at approximately $29,031,911.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brent Billinger sold 2,762 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $31.44, for a total transaction of $86,837.28. Following the sale, the senior vice president now directly owns 22,377 shares in the company, valued at $703,532.88. The disclosure for this sale can be found here. Insiders have sold a total of 312,607 shares of company stock worth $10,457,251 over the last three months. Insiders own 5.55% of the company’s stock.



A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Sanmina by 5.3% during the 1st quarter. BlackRock Inc. now owns 10,575,697 shares of the electronics maker’s stock worth $305,110,000 after acquiring an additional 533,066 shares during the last quarter. Norges Bank bought a new stake in Sanmina during the 4th quarter worth approximately $24,725,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Sanmina by 44.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 968,915 shares of the electronics maker’s stock valued at $23,312,000 after purchasing an additional 296,937 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Sanmina by 0.4% in the 1st quarter. New York State Common Retirement Fund now owns 790,993 shares of the electronics maker’s stock valued at $22,820,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Sanmina by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 770,261 shares of the electronics maker’s stock valued at $18,532,000 after purchasing an additional 41,822 shares during the last quarter. 92.84% of the stock is currently owned by hedge funds and other institutional investors.

SANM stock traded up $0.21 during trading on Tuesday, reaching $30.68. 798,947 shares of the company were exchanged, compared to its average volume of 351,376. The business’s 50-day moving average is $29.31. The company has a market capitalization of $2.12 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 0.85 and a beta of 1.31. Sanmina has a twelve month low of $22.30 and a twelve month high of $34.71.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, April 29th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.17. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Sanmina had a net margin of 1.48% and a return on equity of 13.48%. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. As a group, equities analysts anticipate that Sanmina will post 3.02 earnings per share for the current year.

About Sanmina

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

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