Sanmina (NASDAQ:SANM) Given New $100.00 Price Target at Bank of America

Sanmina (NASDAQ:SANM) had its price target raised by Bank of America from $95.00 to $100.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

Separately, Wall Street Zen upgraded shares of Sanmina from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th.

Sanmina Stock Performance

Shares of Sanmina stock opened at $87.91 on Monday. The company’s 50 day moving average price is $79.91 and its two-hundred day moving average price is $80.21. The firm has a market capitalization of $4.70 billion, a P/E ratio of 21.49, a P/E/G ratio of 1.29 and a beta of 1.14. Sanmina has a fifty-two week low of $61.52 and a fifty-two week high of $91.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.06 and a quick ratio of 1.30.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the business posted $1.30 EPS. Sanmina’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts forecast that Sanmina will post 5.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sanmina

Hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its position in Sanmina by 265.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 365 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 265 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Sanmina by 200.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 405 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 270 shares in the last quarter. Banque Transatlantique SA acquired a new position in shares of Sanmina in the 1st quarter valued at about $29,000. Quarry LP boosted its position in shares of Sanmina by 5,883.3% during the 1st quarter. Quarry LP now owns 718 shares of the electronics maker’s stock valued at $55,000 after purchasing an additional 706 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Sanmina during the first quarter worth approximately $90,000. 92.71% of the stock is currently owned by institutional investors.

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.