Sanmina (NASDAQ:SANM) Given Hold Rating at Craig Hallum

Sanmina (NASDAQ:SANM)‘s stock had its “hold” rating reissued by analysts at Craig Hallum in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $62.00 target price on the electronics maker’s stock. Craig Hallum’s price objective suggests a potential downside of 3.13% from the company’s current price.

Separately, Fox Advisors assumed coverage on Sanmina in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price target for the company.

Sanmina Trading Up 1.6 %

Shares of NASDAQ SANM opened at $64.00 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.99 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $61.30 and a two-hundred day simple moving average of $55.38. The firm has a market cap of $3.64 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04. Sanmina has a twelve month low of $43.40 and a twelve month high of $69.69.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, topping the consensus estimate of $1.15 by $0.15. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The business’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 EPS. Analysts expect that Sanmina will post 5 earnings per share for the current fiscal year.

Insider Transactions at Sanmina

In related news, Director Susan A. Johnson sold 1,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.64, for a total transaction of $60,640.00. Following the transaction, the director now directly owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Sanmina by 2.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,411 shares of the electronics maker’s stock valued at $464,000 after purchasing an additional 197 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Sanmina by 1.9% during the 4th quarter. SummerHaven Investment Management LLC now owns 11,473 shares of the electronics maker’s stock valued at $589,000 after purchasing an additional 212 shares during the last quarter. Headlands Technologies LLC grew its stake in Sanmina by 5.1% during the 4th quarter. Headlands Technologies LLC now owns 4,511 shares of the electronics maker’s stock valued at $232,000 after purchasing an additional 217 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Sanmina by 5.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,533 shares of the electronics maker’s stock valued at $233,000 after purchasing an additional 252 shares during the last quarter. Finally, Islay Capital Management LLC grew its stake in Sanmina by 2.0% during the 3rd quarter. Islay Capital Management LLC now owns 13,833 shares of the electronics maker’s stock valued at $751,000 after purchasing an additional 268 shares during the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

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.