Sanmina (NASDAQ:SANM) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Sanmina (NASDAQ:SANM) from a hold rating to a buy rating in a report released on Thursday morning.

Separately, Craig Hallum increased their price objective on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th.

Sanmina Price Performance

Shares of SANM stock opened at $79.41 on Thursday. The stock has a 50 day moving average price of $71.27 and a 200 day moving average price of $69.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 2.05. The firm has a market capitalization of $4.34 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.34 and a beta of 0.89. Sanmina has a 52-week low of $48.83 and a 52-week high of $86.05.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The company 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 10.47%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. As a group, sell-side analysts predict that Sanmina will post 4.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in Sanmina by 107.5% in the first quarter. Russell Investments Group Ltd. now owns 37,341 shares of the electronics maker’s stock worth $2,322,000 after buying an additional 19,349 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Sanmina by 20.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,972 shares of the electronics maker’s stock valued at $1,218,000 after buying an additional 3,394 shares in the last quarter. Vanguard Group Inc. increased its position in Sanmina by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker’s stock valued at $444,876,000 after buying an additional 45,918 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Sanmina by 2.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 21,369 shares of the electronics maker’s stock worth $1,329,000 after acquiring an additional 594 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new position in shares of Sanmina in the 1st quarter valued at approximately $741,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

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; 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.