Sanmina (NASDAQ:SANM) Reaches New 52-Week High After Analyst Upgrade

Shares of Sanmina Co. (NASDAQ:SANM) reached a new 52-week high on Wednesday after Craig Hallum raised their price target on the stock from $62.00 to $69.00. Craig Hallum currently has a hold rating on the stock. Sanmina traded as high as $78.07 and last traded at $78.07, with a volume of 6680 shares trading hands. The stock had previously closed at $74.40.

Separately, StockNews.com lowered shares of Sanmina from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

Insider Activity

In other news, CEO Jure Sola sold 82,328 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $69.67, for a total value of $5,735,791.76. Following the completion of the transaction, the chief executive officer now directly owns 1,198,594 shares of the company’s stock, valued at approximately $83,506,043.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SANM. GAMMA Investing LLC lifted its position in Sanmina by 108.4% during the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 257 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sanmina by 24.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after purchasing an additional 164 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Sanmina in the 2nd quarter worth $116,000. CWM LLC boosted its position in shares of Sanmina by 40.5% in the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock worth $122,000 after purchasing an additional 513 shares in the last quarter. Finally, KBC Group NV grew its stake in Sanmina by 25.5% during the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock worth $124,000 after buying an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Stock Up 9.0 %

The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. The company has a 50-day moving average of $67.82 and a 200-day moving average of $67.59.

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

Sanmina Company Profile

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.