Sanmina (SANM) Raised to Hold at Zacks Investment Research
Sanmina (NASDAQ:SANM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, January 4th.
According to Zacks, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California. “
A number of other analysts have also recently weighed in on SANM. ValuEngine lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Sanmina in a research report on Wednesday, October 4th. BidaskClub lowered shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Argus lowered shares of Sanmina from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Craig Hallum raised shares of Sanmina from a “hold” rating to a “buy” rating in a research report on Monday, December 18th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Sanmina has a consensus rating of “Hold” and a consensus target price of $37.25.
Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, January 29th. The electronics maker reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. Sanmina had a net margin of 2.02% and a return on equity of 12.27%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business earned $0.75 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. equities analysts anticipate that Sanmina will post 3 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Sanmina by 3.6% in the 2nd quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock valued at $73,977,000 after acquiring an additional 67,853 shares during the period. Martingale Asset Management L P grew its stake in Sanmina by 6.7% in the 2nd quarter. Martingale Asset Management L P now owns 203,968 shares of the electronics maker’s stock valued at $7,772,000 after acquiring an additional 12,814 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Sanmina by 4.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 453,227 shares of the electronics maker’s stock valued at $16,838,000 after acquiring an additional 19,892 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in Sanmina in the 2nd quarter valued at $625,000. Finally, Royce & Associates LP grew its stake in Sanmina by 55.5% in the 3rd quarter. Royce & Associates LP now owns 781,567 shares of the electronics maker’s stock valued at $29,035,000 after acquiring an additional 278,944 shares during the period. 90.79% of the stock is currently owned by hedge funds and other institutional investors.
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Sanmina 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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