Sanmina (NASDAQ:SANM) Upgraded at StockNews.com

Sanmina (NASDAQ:SANM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Separately, Craig Hallum upped their target price on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th.

Sanmina Price Performance

Shares of NASDAQ SANM opened at $79.41 on Thursday. The firm has a market capitalization of $4.34 billion, a P/E ratio of 20.34, a PEG ratio of 1.30 and a beta of 0.89. Sanmina has a one year low of $48.83 and a one year high of $86.05. The company’s fifty day moving average is $71.02 and its two-hundred day moving average is $69.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 2.05.

Sanmina (NASDAQ:SANM) 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 return on equity of 10.47% and a net margin of 2.94%. Sanmina’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. Analysts forecast that Sanmina will post 4.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Sanmina

Institutional investors have recently added to or reduced their stakes in the business. Weiss Asset Management LP lifted its holdings in shares of Sanmina by 590.7% during the 3rd quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after acquiring an additional 325,974 shares during the period. Global Alpha Capital Management Ltd. raised its stake in Sanmina by 19.4% during the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after purchasing an additional 149,600 shares during the period. Royce & Associates LP grew its stake in shares of Sanmina by 36.7% during the 3rd quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock valued at $27,524,000 after buying an additional 107,906 shares during the period. American Century Companies Inc. grew its stake in shares of Sanmina by 14.0% during the 2nd quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker’s stock valued at $57,977,000 after buying an additional 107,474 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Sanmina by 8.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker’s stock worth $77,399,000 after buying an additional 86,492 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

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.