Sanmina Corporation (NASDAQ:SANM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday, July 28th.
According to Zacks, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California. “
Several other equities research analysts have also recently issued reports on the stock. ValuEngine raised shares of Sanmina Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Royal Bank Of Canada lowered their target price on shares of Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $48.00 target price on shares of Sanmina Corporation in a research note on Thursday, June 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $42.80.
Sanmina Corporation (NASDAQ:SANM) traded down 1.09% during trading on Friday, reaching $36.45. 512,731 shares of the company’s stock traded hands. The company has a 50-day moving average price of $38.13 and a 200 day moving average price of $38.59. The firm has a market capitalization of $2.75 billion, a PE ratio of 13.31 and a beta of 0.78. Sanmina Corporation has a one year low of $26.00 and a one year high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last issued its quarterly earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by $0.01. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. Sanmina Corporation’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. On average, analysts anticipate that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Sanmina Corporation (NASDAQ:SANM) Downgraded by Zacks Investment Research to “Strong Sell”” was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/08/15/sanmina-corporation-nasdaqsanm-downgraded-by-zacks-investment-research-updated-updated.html.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $38.40, for a total transaction of $384,000.00. Following the sale, the vice president now directly owns 200,000 shares in the company, valued at $7,680,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.96% of the company’s stock.
A number of hedge funds have recently modified their holdings of SANM. Two Sigma Investments LP acquired a new stake in shares of Sanmina Corporation during the fourth quarter worth about $549,000. Foundry Partners LLC raised its stake in shares of Sanmina Corporation by 14.5% in the first quarter. Foundry Partners LLC now owns 442,517 shares of the electronics maker’s stock worth $17,966,000 after buying an additional 56,000 shares during the period. Regentatlantic Capital LLC acquired a new stake in shares of Sanmina Corporation during the first quarter worth about $322,000. Louisiana State Employees Retirement System raised its stake in shares of Sanmina Corporation by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 30,300 shares of the electronics maker’s stock worth $1,230,000 after buying an additional 800 shares during the period. Finally, Capital Impact Advisors LLC raised its stake in shares of Sanmina Corporation by 3.7% in the first quarter. Capital Impact Advisors LLC now owns 38,057 shares of the electronics maker’s stock worth $1,545,000 after buying an additional 1,357 shares during the period. Institutional investors own 94.91% 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.
Get a free copy of the Zacks research report on Sanmina Corporation (SANM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sanmina Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanmina Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
