Upgrades Sanmina (NASDAQ:SANM) to “Strong-Buy”

Sanmina (NASDAQ:SANMGet Rating) was upgraded by from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Separately, Zacks Investment Research raised Sanmina from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to, the company currently has an average rating of “Buy” and a consensus price target of $51.25.

Shares of Sanmina stock opened at $39.94 on Thursday. The stock has a 50-day moving average price of $40.11 and a 200 day moving average price of $39.66. The company has a market cap of $2.54 billion, a P/E ratio of 9.58, a P/E/G ratio of 0.91 and a beta of 1.06. The company has a current ratio of 1.74, a quick ratio of 1.14 and a debt-to-equity ratio of 0.16. Sanmina has a 1 year low of $35.06 and a 1 year high of $43.63.

Sanmina (NASDAQ:SANMGet Rating) last announced its quarterly earnings data on Monday, January 31st. The electronics maker reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.16. The firm had revenue of $1.76 billion during the quarter. Sanmina had a return on equity of 12.80% and a net margin of 4.14%. During the same period in the prior year, the company posted $0.90 earnings per share. On average, equities analysts forecast that Sanmina will post 3.69 earnings per share for the current fiscal year.

In other news, SVP Brent Billinger sold 3,831 shares of the stock in a transaction dated Thursday, February 3rd. The stock was sold at an average price of $40.23, for a total transaction of $154,121.13. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alan Mcwilliams Reid sold 9,039 shares of the stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $39.11, for a total value of $353,515.29. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Confluence Wealth Services Inc. acquired a new stake in Sanmina during the fourth quarter worth $26,000. Counterpoint Mutual Funds LLC bought a new position in shares of Sanmina during the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Sanmina during the 4th quarter valued at about $29,000. Covestor Ltd bought a new stake in Sanmina in the fourth quarter valued at about $55,000. Finally, O Shaughnessy Asset Management LLC raised its position in Sanmina by 140.5% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,667 shares of the electronics maker’s stock worth $64,000 after purchasing an additional 974 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Sanmina Company Profile (Get Rating)

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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