Sanmina (NASDAQ:SANM) Reaches New 12-Month High on Analyst Upgrade

Sanmina Co. (NASDAQ:SANM)’s stock price hit a new 52-week high during trading on Wednesday after Craig Hallum raised their price target on the stock from $62.00 to $69.00. Craig Hallum currently has a hold rating on the stock. Sanmina traded as high as $78.07 and last traded at $78.07, with a volume of 6680 shares. The stock had previously closed at $74.40.

Separately, StockNews.com lowered Sanmina from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Insider Buying and Selling

In other Sanmina news, CEO Jure Sola sold 82,328 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the transaction, the chief executive officer now owns 1,198,594 shares in the company, valued at $83,506,043.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SANM. GAMMA Investing LLC lifted its stake in shares of Sanmina by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 257 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sanmina by 24.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after purchasing an additional 164 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Sanmina during the second quarter valued at $116,000. CWM LLC boosted its stake in shares of Sanmina by 40.5% during the third quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after purchasing an additional 513 shares during the period. Finally, KBC Group NV grew its holdings in shares of Sanmina by 25.5% in the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock worth $124,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Stock Up 9.0 %

The company’s 50 day moving average is $67.82 and its 200 day moving average is $67.59. The company has a market cap of $4.43 billion, a PE ratio of 19.03, a P/E/G ratio of 1.66 and a beta of 0.89. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.52%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. As a group, analysts predict that Sanmina Co. will post 5.07 earnings per share for the current fiscal year.

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.