Sanmina (SANM) Hits New 12-Month Low at $31.60

Sanmina Corporation (NASDAQ:SANM) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $31.60 and last traded at $32.35, with a volume of 918100 shares traded. The stock had previously closed at $33.05.

SANM has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Sanmina from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. ValuEngine raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Sanmina in a research report on Wednesday, October 4th. Argus lowered shares of Sanmina from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Bank of America lowered shares of Sanmina from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $44.33.

The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2,329.87, a P/E ratio of 12.12, a PEG ratio of 0.90 and a beta of 0.78.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.12). The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Sanmina had a return on equity of 12.27% and a net margin of 2.02%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. research analysts anticipate that Sanmina Corporation will post 3 earnings per share for the current year.

Sanmina announced that its Board of Directors has initiated a share repurchase program on Monday, September 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the electronics maker to buy up to 77% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Several large investors have recently modified their holdings of SANM. LS Investment Advisors LLC increased its stake in Sanmina by 4.1% during the second quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock valued at $133,000 after purchasing an additional 138 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Sanmina by 70.7% during the second quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after purchasing an additional 1,627 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Sanmina by 3.8% during the second quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after purchasing an additional 200 shares during the last quarter. Advisory Services Network LLC bought a new stake in Sanmina during the second quarter valued at $212,000. Finally, ETRADE Capital Management LLC bought a new stake in Sanmina during the third quarter valued at $228,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Sanmina (SANM) Hits New 12-Month Low at $31.60” was reported by Community Financial News and is the property of of Community Financial News. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.com-unik.info/2017/12/07/sanmina-sanm-hits-new-12-month-low-at-31-60.html.

About Sanmina

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.

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