Sanmina (NASDAQ:SANM) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Sanmina (NASDAQ:SANM) from a strong-buy rating to a buy rating in a report issued on Monday.

SANM has been the subject of several other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Sanmina in a research report on Wednesday, October 8th. Bank of America lifted their price objective on shares of Sanmina from $100.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $94.50.

Sanmina Stock Performance

NASDAQ SANM opened at $134.96 on Monday. The company has a fifty day simple moving average of $121.02 and a 200 day simple moving average of $102.91. Sanmina has a 12-month low of $63.67 and a 12-month high of $160.25. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company has a market cap of $7.19 billion, a P/E ratio of 28.90, a PEG ratio of 1.38 and a beta of 1.19.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.11. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm posted $1.25 EPS. Sanmina’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts predict that Sanmina will post 5.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sanmina

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. boosted its holdings in shares of Sanmina by 27.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 398 shares of the electronics maker’s stock worth $39,000 after buying an additional 85 shares during the last quarter. Trail Ridge Investment Advisors LLC boosted its holdings in shares of Sanmina by 2.7% in the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 3,264 shares of the electronics maker’s stock worth $376,000 after buying an additional 86 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Sanmina by 1.5% in the 2nd quarter. Bank of Montreal Can now owns 8,814 shares of the electronics maker’s stock worth $862,000 after buying an additional 128 shares during the last quarter. Moloney Securities Asset Management LLC boosted its holdings in shares of Sanmina by 3.9% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 3,668 shares of the electronics maker’s stock worth $359,000 after buying an additional 138 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Sanmina by 1.2% in the 1st quarter. XTX Topco Ltd now owns 11,886 shares of the electronics maker’s stock worth $905,000 after buying an additional 140 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

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.