Sanmina Corporation (SANM) Receives Average Recommendation of “Hold” from Brokerages

Sanmina Corporation (NASDAQ:SANM) has earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $43.25.

Several research analysts have weighed in on the stock. Royal Bank Of Canada decreased their price target on shares of Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Sanmina Corporation in a research report on Tuesday, April 25th. 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. Zacks Investment Research cut shares of Sanmina Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, ValuEngine raised shares of Sanmina Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th.

Shares of Sanmina Corporation (NASDAQ:SANM) opened at 35.70 on Friday. Sanmina Corporation has a 12-month low of $26.00 and a 12-month high of $42.95. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 13.04 and a beta of 0.78. The company’s 50-day moving average price is $38.21 and its 200 day moving average price is $38.54.

Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 24th. The electronics maker reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.01. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities analysts predict that Sanmina Corporation will post $3.01 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This piece was reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright & trademark laws. The legal version of this piece can be read at https://www.com-unik.info/2017/08/12/brokerages-set-sanmina-corporation-sanm-price-target-at-39-50-updated-updated-updated.html.

In related news, VP Robert K. Eulau sold 10,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $38.40, for a total transaction of $384,000.00. Following the completion of the transaction, the vice president now directly owns 200,000 shares of the company’s stock, valued at $7,680,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.96% of the company’s stock.

Several institutional investors have recently modified their holdings of SANM. Dimensional Fund Advisors LP boosted its position in shares of Sanmina Corporation by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock worth $241,823,000 after buying an additional 65,223 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Sanmina Corporation by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 437,733 shares of the electronics maker’s stock worth $16,678,000 after buying an additional 2,431 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Sanmina Corporation by 0.9% in the second quarter. Nordea Investment Management AB now owns 209,000 shares of the electronics maker’s stock worth $7,963,000 after buying an additional 1,900 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Sanmina Corporation by 1.2% in the second quarter. Hanseatic Management Services Inc. now owns 9,654 shares of the electronics maker’s stock worth $368,000 after buying an additional 116 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Sanmina Corporation by 0.5% in the second quarter. New York State Common Retirement Fund now owns 448,472 shares of the electronics maker’s stock worth $17,087,000 after buying an additional 2,099 shares during the last quarter. 94.35% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Sanmina Corporation (NASDAQ:SANM)

What are top analysts saying about Sanmina Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sanmina Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit