Sanmina (NASDAQ:SANM) Reaches New 52-Week High on Analyst Upgrade

Sanmina Co. (NASDAQ:SANM - Get Free Report)'s stock price reached a new 52-week high on Wednesday after Craig Hallum raised their price target on the stock from $62.00 to $69.00. Craig Hallum currently has a hold rating on the stock. Sanmina traded as high as $78.07 and last traded at $78.07, with a volume of 6680 shares traded. The stock had previously closed at $74.40.

Separately, StockNews.com downgraded Sanmina from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th.

Insider Buying and Selling

In related news, CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,198,594 shares in the company, valued at $83,506,043.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sanmina

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted 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 buying an additional 257 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 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 lifted 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 purchasing an additional 513 shares in the last quarter. Finally, KBC Group NV boosted its stake in Sanmina by 25.5% during the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker's stock worth $124,000 after purchasing an additional 368 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Price Performance

The stock's fifty 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. The firm has a market cap of $4.58 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89.

Sanmina (NASDAQ:SANM - Get Free Report) last released its earnings results 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 10.52%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company posted $1.20 EPS. The business's revenue was down 1.6% on a year-over-year basis. As a group, equities analysts expect that Sanmina Co. will post 5.07 EPS for the current fiscal year.

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.