Sanmina (NASDAQ:SANM) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Sanmina (NASDAQ:SANM) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

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.

Shares of SANM stock opened at $41.02 on Wednesday. The firm has a market capitalization of $2.66 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. The firm has a fifty day simple moving average of $39.01 and a two-hundred day simple moving average of $32.84. The company has a current ratio of 1.85, a quick ratio of 1.29 and a debt-to-equity ratio of 0.20. Sanmina has a 12 month low of $23.75 and a 12 month high of $43.36.

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.

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; 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.

Featured Story: What is insider trading?

Get a free copy of the Zacks research report on Sanmina (SANM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sanmina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanmina and related companies with MarketBeat.com's FREE daily email newsletter.