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

Sanmina (NASDAQ:SANMGet Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Separately, Zacks Investment Research raised shares of Sanmina from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th.

Shares of SANM stock opened at $42.12 on Thursday. The company’s fifty day simple moving average is $40.76 and its 200-day simple moving average is $39.90. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.56 billion, a PE ratio of 9.80 and a beta of 0.98. Sanmina has a 12 month low of $35.06 and a 12 month high of $44.26.

Sanmina (NASDAQ:SANMGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The electronics maker reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.13. The business had revenue of $1.91 billion for the quarter. Sanmina had a net margin of 4.10% and a return on equity of 12.92%. During the same period in the prior year, the firm earned $0.87 EPS.

In related news, SVP Brent Billinger sold 2,520 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $42.33, for a total transaction of $106,671.60. Following the transaction, the senior vice president now directly owns 11,742 shares in the company, valued at $497,038.86. The sale was disclosed in a filing with the SEC, which is available through this link. 3.30% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. Confluence Wealth Services Inc. acquired a new position in shares of Sanmina in the fourth quarter valued at about $26,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Sanmina in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC acquired a new position in shares of Sanmina in the fourth quarter valued at about $29,000. Quadrant Capital Group LLC grew its stake in shares of Sanmina by 37.9% in the first quarter. Quadrant Capital Group LLC now owns 927 shares of the electronics maker’s stock valued at $38,000 after acquiring an additional 255 shares in the last quarter. Finally, Covestor Ltd acquired a new position in shares of Sanmina in the fourth quarter valued at about $55,000. Hedge funds and other institutional investors own 92.28% of the company’s stock.

Sanmina Company Profile (Get Rating)

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.

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