Sanmina (NASDAQ:SANM) Stock Price Expected to Rise, Bank of America Analyst Says

Sanmina (NASDAQ:SANM) had its price objective increased by Bank of America from $100.00 to $120.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. Bank of America‘s price target suggests a potential upside of 15.20% from the company’s current price.

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

Sanmina Price Performance

Shares of Sanmina stock opened at $104.17 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.57 billion, a PE ratio of 24.11, a P/E/G ratio of 1.60 and a beta of 1.17. Sanmina has a twelve month low of $61.52 and a twelve month high of $105.72. The business has a 50-day moving average price of $89.43 and a 200 day moving average price of $82.95.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping the consensus estimate of $1.38 by $0.03. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a net margin of 3.09% and a return on equity of 10.84%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 EPS. Sell-side analysts predict that Sanmina will post 5.15 earnings per share for the current fiscal year.

Institutional Trading of Sanmina

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its holdings in Sanmina by 265.0% in the first 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 increased its holdings in shares of Sanmina by 200.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 405 shares of the electronics maker’s stock worth $31,000 after buying an additional 270 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of Sanmina in the 1st quarter worth $29,000. Quarry LP grew its position in Sanmina by 5,883.3% during the first quarter. Quarry LP now owns 718 shares of the electronics maker’s stock valued at $55,000 after acquiring an additional 706 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Sanmina during the first quarter valued at about $90,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

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.