Brokerages Set Sanmina Corporation (SANM) Price Target at $39.50

Sanmina Corporation (NASDAQ:SANM) has received a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $39.50.

SANM has been the subject of a number of recent research reports. Bank of America Corporation reissued a “buy” rating and issued a $48.00 price objective on shares of Sanmina Corporation in a research note on Thursday, June 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Sanmina Corporation in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $42.00 price target (up from $39.00) on shares of Sanmina Corporation in a research note on Tuesday, April 25th.

Sanmina Corporation (SANM) traded up 2.36% during mid-day trading on Friday, reaching $41.25. 570,629 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $37.60 and its 200 day moving average price is $38.13. Sanmina Corporation has a one year low of $23.50 and a one year high of $41.35. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 15.49 and a beta of 0.79.

Sanmina Corporation (NASDAQ:SANM) last issued its quarterly earnings data on Monday, April 24th. The electronics maker reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Sanmina Corporation had a net margin of 3.07% and a return on equity of 11.81%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the company posted $0.63 EPS. The business’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts forecast that Sanmina Corporation will post $3.05 EPS for the current year.

In related news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $37.97, for a total transaction of $379,700.00. Following the completion of the sale, the vice president now owns 210,000 shares in the company, valued at approximately $7,973,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 30,000 shares of company stock valued at $1,134,700 in the last quarter. 4.96% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Sanmina Corporation by 20,899.1% in the first quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock valued at $449,352,000 after buying an additional 11,015,080 shares in the last quarter. Vanguard Group Inc. raised its stake in Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock valued at $293,059,000 after buying an additional 548,729 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Sanmina Corporation by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,281,827 shares of the electronics maker’s stock valued at $255,042,000 after buying an additional 35,365 shares in the last quarter. LSV Asset Management raised its stake in Sanmina Corporation by 2.4% in the first quarter. LSV Asset Management now owns 3,640,189 shares of the electronics maker’s stock valued at $147,791,000 after buying an additional 86,294 shares in the last quarter. Finally, State Street Corp raised its stake in Sanmina Corporation by 1.9% in the first quarter. State Street Corp now owns 1,873,742 shares of the electronics maker’s stock valued at $76,073,000 after buying an additional 35,137 shares in the last quarter. Institutional investors own 94.09% of the company’s stock.

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Sanmina Corporation Company Profile

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

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