According to Zacks, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California. “
SANM has been the subject of a number of other research reports. Craig Hallum boosted their price target on shares of Sanmina from $46.00 to $53.00 and gave the company a buy rating in a research note on Wednesday, February 17th. Argus lowered shares of Sanmina from a buy rating to a hold rating in a research note on Tuesday, February 16th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $40.80.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, February 1st. The electronics maker reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.21. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.77 billion. Sanmina had a net margin of 2.01% and a return on equity of 11.51%. Sanmina’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. On average, equities analysts predict that Sanmina will post 3.38 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of SANM. Norges Bank purchased a new position in Sanmina during the 4th quarter worth $34,068,000. SummerHaven Investment Management LLC purchased a new position in Sanmina during the 4th quarter worth $551,000. DNB Asset Management AS boosted its holdings in Sanmina by 76.5% during the 4th quarter. DNB Asset Management AS now owns 1,186,896 shares of the electronics maker’s stock worth $37,850,000 after acquiring an additional 514,457 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Sanmina by 15.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,154,717 shares of the electronics maker’s stock worth $68,714,000 after buying an additional 292,157 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Sanmina by 65.1% in the 4th quarter. Morgan Stanley now owns 671,427 shares of the electronics maker’s stock worth $21,411,000 after buying an additional 264,685 shares during the last quarter. 94.57% of the stock is currently owned by hedge funds and other institutional investors.
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; manufacturing of components, subassemblies, and complete systems; high-level 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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