Sanmina (NASDAQ:SANM) PT Raised to $70.00 at Craig Hallum

Sanmina (NASDAQ:SANMGet Rating) had its target price boosted by stock analysts at Craig Hallum from $65.00 to $70.00 in a research note issued on Tuesday, The Fly reports. The firm presently has a “buy” rating on the electronics maker’s stock. Craig Hallum’s price target would suggest a potential upside of 40.00% from the stock’s previous close.

Separately, StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 14th.

Sanmina Trading Up 2.7 %

Shares of NASDAQ SANM opened at $50.00 on Tuesday. Sanmina has a one year low of $35.06 and a one year high of $50.36. The firm has a market capitalization of $3.04 billion, a PE ratio of 12.99, a PEG ratio of 0.95 and a beta of 0.99. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $42.79 and a two-hundred day moving average price of $40.97.

Sanmina (NASDAQ:SANMGet Rating) last announced its quarterly earnings data on Monday, August 1st. The electronics maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.19. Sanmina had a return on equity of 13.56% and a net margin of 3.38%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company posted $0.88 EPS. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, analysts predict that Sanmina will post 3.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanmina

A number of hedge funds and other institutional investors have recently made changes to their positions in SANM. Confluence Wealth Services Inc. bought a new position in shares of Sanmina in the 4th quarter valued at approximately $26,000. EverSource Wealth Advisors LLC bought a new position in shares of Sanmina in the 4th quarter valued at approximately $29,000. Quadrant Capital Group LLC raised its stake in shares of Sanmina by 37.9% in the 1st 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. Covestor Ltd bought a new position in shares of Sanmina in the 4th quarter valued at approximately $55,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Sanmina in the 2nd quarter valued at approximately $117,000. 92.28% of the stock is owned by hedge funds and other institutional investors.

About Sanmina

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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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