Craig Hallum Boosts Sanmina (NASDAQ:SANM) Price Target to $69.00

Sanmina (NASDAQ:SANM - Get Free Report) had its price objective upped by research analysts at Craig Hallum from $62.00 to $69.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "hold" rating on the electronics maker's stock. Craig Hallum's price objective would indicate a potential downside of 7.26% from the stock's previous close.

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

Sanmina Stock Performance

Shares of SANM traded up $1.60 during midday trading on Tuesday, reaching $74.40. 860,594 shares of the stock were exchanged, compared to its average volume of 422,992. The business's 50-day moving average price is $67.82 and its 200 day moving average price is $67.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27. Sanmina has a twelve month low of $43.40 and a twelve month high of $76.84. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.63 and a beta of 0.89.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.96 billion. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, sell-side analysts expect that Sanmina will post 4.19 EPS for the current fiscal year.

Insider Transactions at Sanmina

In related news, EVP Alan Mcwilliams Reid sold 8,500 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total value of $585,225.00. Following the sale, the executive vice president now owns 26,679 shares of the company's stock, valued at approximately $1,836,849.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jure Sola sold 82,328 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $69.67, for a total value of $5,735,791.76. Following the sale, the chief executive officer now owns 1,198,594 shares of the company's stock, valued at approximately $83,506,043.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of the business's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total value of $585,225.00. Following the completion of the transaction, the executive vice president now owns 26,679 shares of the company's stock, valued at $1,836,849.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,829 shares of company stock valued at $6,321,086 in the last quarter. 3.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SANM. 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 valued at $33,000 after acquiring an additional 257 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker's stock valued at $56,000 after acquiring an additional 164 shares during the last quarter. Innealta Capital LLC acquired a new position in Sanmina in the 2nd quarter valued at $116,000. CWM LLC raised its holdings in Sanmina by 40.5% in the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker's stock valued at $122,000 after acquiring an additional 513 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Sanmina by 16.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker's stock worth $146,000 after buying an additional 299 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

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.