Craig Hallum Issues Positive Forecast for Sanmina (NASDAQ:SANM) Stock Price

Sanmina (NASDAQ:SANM) had its target price increased by Craig Hallum from $62.00 to $69.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the electronics maker’s stock.

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

Sanmina Stock Up 2.2 %

Shares of SANM stock opened at $74.40 on Tuesday. 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 has a 12 month low of $43.40 and a 12 month high of $76.84. The stock has a market cap of $4.07 billion, a P/E ratio of 19.27, a P/E/G ratio of 1.63 and a beta of 0.89. The company has a 50 day simple moving average of $67.82 and a two-hundred day simple moving average of $67.59.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the business posted $1.20 EPS. Sanmina’s revenue was down 1.6% on a year-over-year basis. On average, research analysts expect that Sanmina will post 4.19 earnings per share for the current year.

Insider Activity at Sanmina

In other Sanmina news, CEO Jure Sola sold 82,328 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 1,198,594 shares of the company’s stock, valued at $83,506,043.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sanmina

Several large investors have recently made changes to their positions in SANM. First Trust Direct Indexing L.P. bought a new stake in Sanmina in the 1st quarter worth approximately $211,000. BNP Paribas Financial Markets raised its stake in Sanmina by 3.7% during the first quarter. BNP Paribas Financial Markets now owns 91,506 shares of the electronics maker’s stock valued at $5,690,000 after purchasing an additional 3,299 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Sanmina by 26.4% during the first quarter. Janney Montgomery Scott LLC now owns 13,627 shares of the electronics maker’s stock valued at $847,000 after purchasing an additional 2,849 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Sanmina by 31.4% in the 1st quarter. Jennison Associates LLC now owns 33,128 shares of the electronics maker’s stock worth $2,060,000 after buying an additional 7,920 shares in the last quarter. Finally, TFG Advisers LLC bought a new stake in shares of Sanmina in the 1st quarter worth about $242,000. 92.71% of the stock is 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 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.