Craig Hallum Raises Sanmina (NASDAQ:SANM) Price Target to $70.00

Sanmina (NASDAQ:SANMGet Rating) had its target price lifted by Craig Hallum from $65.00 to $70.00 in a report issued on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the electronics maker’s stock.

Separately, StockNews.com cut Sanmina from a strong-buy rating to a buy rating in a report on Thursday, July 14th.

Sanmina Stock Up 0.2 %

Shares of NASDAQ SANM opened at $49.90 on Tuesday. The business’s fifty day moving average price is $43.04 and its 200-day moving average price is $41.10. The stock has a market capitalization of $3.04 billion, a PE ratio of 12.96, a P/E/G ratio of 0.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.02. Sanmina has a one year low of $35.06 and a one year high of $50.36.

Sanmina (NASDAQ:SANMGet Rating) last issued its quarterly earnings data on Monday, August 1st. The electronics maker reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.19. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sanmina had a return on equity of 13.67% and a net margin of 3.38%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, equities research analysts anticipate that Sanmina will post 4.31 EPS for the current year.

Hedge Funds Weigh In On Sanmina

A number of institutional investors have recently added to or reduced their stakes in SANM. Confluence Wealth Services Inc. bought a new position in Sanmina in the 4th quarter worth about $26,000. Fifth Third Bancorp increased its stake in Sanmina by 122.4% in the 2nd quarter. Fifth Third Bancorp now owns 636 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 350 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in Sanmina in the 4th quarter worth about $29,000. Quadrant Capital Group LLC increased its stake in Sanmina by 37.9% in the 1st quarter. Quadrant Capital Group LLC now owns 927 shares of the electronics maker’s stock worth $38,000 after acquiring an additional 255 shares during the last quarter. Finally, Covestor Ltd bought a new position in Sanmina in the 4th quarter worth about $55,000. 92.28% of the stock is currently owned by institutional investors.

About Sanmina

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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.

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