Sanmina (NASDAQ:SANM) Upgraded by StockNews.com to Buy Rating

Sanmina (NASDAQ:SANM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Separately, Craig Hallum lifted their price objective on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday.

Sanmina Stock Down 0.2 %

NASDAQ:SANM opened at $83.27 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.05 and a quick ratio of 1.27. The firm’s 50-day moving average price is $68.68 and its 200-day moving average price is $67.98. The company has a market capitalization of $4.55 billion, a PE ratio of 21.30, a P/E/G ratio of 1.35 and a beta of 0.89. Sanmina has a 1-year low of $45.80 and a 1-year high of $86.05.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that Sanmina will post 5.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Sanmina

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Sanmina by 108.4% in 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. raised its stake in shares of Sanmina by 24.1% in 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 position in shares of Sanmina in the second quarter worth $116,000. CWM LLC lifted its holdings 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 in the last quarter. Finally, KBC Group NV boosted its position in shares of Sanmina by 25.5% during the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after buying an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

About Sanmina

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.