Citigroup Increases Sanmina (NASDAQ:SANM) Price Target to $65.00

Sanmina (NASDAQ:SANMGet Rating) had its price target lifted by equities researchers at Citigroup to $65.00 in a research note issued on Tuesday, Stock Target Advisor reports. Citigroup’s price target suggests a potential downside of 1.41% from the company’s previous close.

A number of other research analysts have also recently weighed in on the company. Craig Hallum raised their price target on Sanmina from $70.00 to $76.00 in a research report on Tuesday, November 8th. Sidoti raised Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Tuesday, November 8th. Finally, StockNews.com upgraded Sanmina from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

Sanmina Stock Performance

SANM opened at $65.93 on Tuesday. The stock’s 50 day simple moving average is $53.03 and its 200 day simple moving average is $47.36. The stock has a market cap of $3.79 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.30 and a beta of 1.01. Sanmina has a 1-year low of $35.36 and a 1-year high of $69.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.60 and a quick ratio of 0.91.

Insider Buying and Selling at Sanmina

In other news, CEO Jure Sola sold 119,550 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $50.33, for a total transaction of $6,016,951.50. Following the completion of the sale, the chief executive officer now directly owns 917,906 shares in the company, valued at approximately $46,198,208.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Jure Sola sold 119,550 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $50.33, for a total value of $6,016,951.50. Following the transaction, the chief executive officer now directly owns 917,906 shares in the company, valued at approximately $46,198,208.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Goldsberry sold 8,262 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $68.58, for a total value of $566,607.96. Following the sale, the director now owns 14,062 shares of the company’s stock, valued at approximately $964,371.96. The disclosure for this sale can be found here. 3.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sanmina

A number of large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sanmina by 3.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,868 shares of the electronics maker’s stock worth $320,000 after acquiring an additional 233 shares during the period. CWM LLC lifted its position in shares of Sanmina by 76.4% during the third quarter. CWM LLC now owns 545 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 236 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Sanmina by 37.9% during the first quarter. Quadrant Capital Group LLC now owns 927 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 255 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Sanmina by 2.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,976 shares of the electronics maker’s stock valued at $552,000 after purchasing an additional 273 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Sanmina by 7.9% during the 3rd quarter. Lazard Asset Management LLC now owns 3,762 shares of the electronics maker’s stock valued at $173,000 after purchasing an additional 275 shares in the last quarter. Institutional investors and hedge funds own 95.68% of the company’s stock.

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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