Argus downgraded shares of Sanmina Corporation (NASDAQ:SANM) from a buy rating to a hold rating in a report published on Thursday, November 2nd, Marketbeat reports.
Several other research analysts have also weighed in on SANM. Zacks Investment Research upgraded Sanmina Corporation from a sell rating to a hold rating in a research report on Tuesday, September 26th. ValuEngine lowered Sanmina Corporation from a strong-buy rating to a buy rating in a research report on Monday, October 2nd. Royal Bank Of Canada lowered their price target on Sanmina Corporation from $42.00 to $40.00 and set a sector perform rating for the company in a research report on Tuesday, July 25th. Needham & Company LLC restated a buy rating and set a $45.00 price target on shares of Sanmina Corporation in a research report on Tuesday, July 25th. Finally, Bank of America Corporation lowered Sanmina Corporation from a buy rating to a neutral rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $43.25.
Shares of Sanmina Corporation (NASDAQ:SANM) opened at $35.10 on Thursday. The stock has a market capitalization of $2,550.00, a P/E ratio of 12.70, a PEG ratio of 0.94 and a beta of 0.77. Sanmina Corporation has a 52-week low of $30.81 and a 52-week high of $42.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.62 and a quick ratio of 0.97.
Sanmina Corporation (NASDAQ:SANM) last issued its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.12). The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Sanmina Corporation had a return on equity of 12.27% and a net margin of 2.02%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. sell-side analysts predict that Sanmina Corporation will post 3 EPS for the current fiscal year.
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Sanmina Corporation declared that its board has approved a stock repurchase program on Monday, September 18th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the electronics maker to purchase up to 77% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total value of $372,100.00. Following the sale, the vice president now directly owns 180,000 shares in the company, valued at $6,697,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.96% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock valued at $293,059,000 after acquiring an additional 548,729 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sanmina Corporation by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock valued at $241,823,000 after acquiring an additional 65,223 shares in the last quarter. LSV Asset Management raised its stake in shares of Sanmina Corporation by 2.5% in the second quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock valued at $142,169,000 after acquiring an additional 91,300 shares in the last quarter. State Street Corp raised its stake in shares of Sanmina Corporation by 3.6% in the second 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 in the last quarter. Finally, Earnest Partners LLC raised its stake in shares of Sanmina Corporation by 1.6% in the second quarter. Earnest Partners LLC now owns 1,735,490 shares of the electronics maker’s stock valued at $66,122,000 after acquiring an additional 26,667 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.
About Sanmina Corporation
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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