Craig Hallum Raises Sanmina (NASDAQ:SANM) Price Target to $40.00

Sanmina (NASDAQ:SANM) had its price objective boosted by Craig Hallum from $31.00 to $40.00 in a report issued on Thursday morning, The Fly reports. Craig Hallum currently has a buy rating on the electronics maker’s stock.

SANM has been the topic of several other reports. BidaskClub upgraded Sanmina from a strong sell rating to a sell rating in a research note on Wednesday, July 15th. Cfra reduced their price objective on Sanmina from $35.00 to $30.00 and set a hold rating on the stock in a research note on Tuesday, April 28th. Citigroup increased their price objective on Sanmina from $22.00 to $30.00 and gave the company a neutral rating in a research note on Wednesday, April 29th. Zacks Investment Research upgraded Sanmina from a strong sell rating to a hold rating in a research note on Thursday, July 2nd. Finally, ValuEngine cut Sanmina from a hold rating to a sell rating in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $35.25.

Shares of SANM traded down $0.13 during midday trading on Thursday, hitting $29.68. 529,662 shares of the stock were exchanged, compared to its average volume of 368,280. Sanmina has a 52-week low of $18.34 and a 52-week high of $34.96. The stock has a fifty day simple moving average of $25.27 and a 200 day simple moving average of $27.13. The firm has a market cap of $2.02 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 1.58.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Wednesday, July 29th. The electronics maker reported $0.86 EPS for the quarter, topping the consensus estimate of $0.24 by $0.62. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.57 billion. Sanmina had a return on equity of 10.35% and a net margin of 1.55%. The company’s quarterly revenue was down 18.3% on a year-over-year basis. During the same period last year, the business posted $0.82 earnings per share. As a group, equities research analysts forecast that Sanmina will post 2.39 EPS for the current fiscal year.

In other Sanmina news, SVP Brent Billinger sold 922 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $27.35, for a total transaction of $25,216.70. Following the transaction, the senior vice president now owns 18,742 shares of the company’s stock, valued at $512,593.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.73% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of SANM. Comerica Bank grew its holdings in shares of Sanmina by 6.0% during the second quarter. Comerica Bank now owns 73,577 shares of the electronics maker’s stock worth $1,933,000 after buying an additional 4,139 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Sanmina by 1.4% during the second quarter. Peregrine Capital Management LLC now owns 170,763 shares of the electronics maker’s stock worth $4,276,000 after buying an additional 2,432 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Sanmina by 41.9% during the second quarter. Pacer Advisors Inc. now owns 17,756 shares of the electronics maker’s stock worth $445,000 after buying an additional 5,244 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sanmina by 22.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,857 shares of the electronics maker’s stock worth $172,000 after buying an additional 1,261 shares during the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Sanmina during the second quarter worth about $222,000. 94.84% of the stock is currently owned by institutional investors.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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