Sanmina Corporation (SANM) Given New $40.00 Price Target at Royal Bank Of Canada

Sanmina Corporation (NASDAQ:SANM) had its price target cut by Royal Bank Of Canada from $42.00 to $40.00 in a research report released on Tuesday morning. They currently have a sector perform rating on the electronics maker’s stock.

Several other analysts also recently issued reports on the stock. Bank of America Corporation reaffirmed a buy rating and set a $48.00 price objective on shares of Sanmina Corporation in a report on Thursday, June 15th. Needham & Company LLC reaffirmed a buy rating and set a $45.00 price objective on shares of Sanmina Corporation in a report on Tuesday, April 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $39.43.

Shares of Sanmina Corporation (NASDAQ SANM) traded down 1.595% during mid-day trading on Tuesday, hitting $37.025. 368,566 shares of the stock traded hands. Sanmina Corporation has a 52 week low of $23.50 and a 52 week high of $42.95. The stock has a 50-day moving average of $38.97 and a 200-day moving average of $38.57. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 13.903 and a beta of 0.79.

Sanmina Corporation (NASDAQ:SANM) last posted its quarterly earnings data on Monday, July 24th. The electronics maker reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.74 billion. Sanmina Corporation had a return on equity of 12.49% and a net margin of 3.15%. Sanmina Corporation’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. Analysts anticipate that Sanmina Corporation will post $3.05 EPS for the current year.

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In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $37.97, for a total value of $379,700.00. Following the completion of the sale, the vice president now directly owns 210,000 shares of the company’s stock, valued at approximately $7,973,700. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 30,000 shares of company stock valued at $1,134,700. Insiders own 4.96% of the company’s stock.

A number of hedge funds have recently modified their holdings of SANM. LS Investment Advisors LLC increased its stake in shares of Sanmina Corporation by 5.5% in the first quarter. LS Investment Advisors LLC now owns 3,360 shares of the electronics maker’s stock worth $136,000 after buying an additional 176 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Sanmina Corporation during the first quarter worth $209,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Sanmina Corporation during the second quarter worth $203,000. Menta Capital LLC bought a new stake in shares of Sanmina Corporation during the first quarter worth $219,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Sanmina Corporation by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock worth $207,000 after buying an additional 200 shares during the period. 95.40% of the stock is owned by hedge funds and other institutional investors.

Sanmina Corporation Company Profile

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.