Sanmina (NASDAQ:SANM) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Sanmina (NASDAQ:SANM - Free Report) from a hold rating to a buy rating in a research report released on Thursday.

Separately, Craig Hallum boosted their target price on shares of Sanmina from $62.00 to $69.00 and gave the company a "hold" rating in a report on Tuesday.

Sanmina Price Performance

NASDAQ SANM traded down $0.48 during trading hours on Thursday, hitting $83.40. 617,764 shares of the company's stock traded hands, compared to its average volume of 427,860. Sanmina has a 52-week low of $45.45 and a 52-week high of $86.05. The company has a market capitalization of $4.56 billion, a PE ratio of 21.33, a PEG ratio of 1.66 and a beta of 0.89. 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's 50-day moving average is $68.40 and its 200-day moving average is $67.81.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.52%. Sanmina's revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 EPS. Equities analysts forecast that Sanmina will post 5.07 EPS for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Sanmina

A number of large investors have recently modified their holdings of the company. Royce & Associates LP increased its position in shares of Sanmina by 36.7% in the 3rd quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker's stock valued at $27,524,000 after purchasing an additional 107,906 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Sanmina in the 3rd quarter valued at approximately $519,000. Nicola Wealth Management LTD. grew its position in shares of Sanmina by 12.9% in the 3rd quarter. Nicola Wealth Management LTD. now owns 61,100 shares of the electronics maker's stock valued at $4,182,000 after buying an additional 7,000 shares during the last quarter. KBC Group NV grew its position in shares of Sanmina by 25.5% in the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker's stock valued at $124,000 after buying an additional 368 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in shares of Sanmina by 1.0% in the 3rd quarter. Empower Advisory Group LLC now owns 262,252 shares of the electronics maker's stock valued at $17,951,000 after buying an additional 2,567 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

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.