Sanmina (NASDAQ:SANM) Shares Cross Above 200-Day Moving Average of $54.80

Sanmina Co. (NASDAQ:SANM - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $54.80 and traded as high as $59.16. Sanmina shares last traded at $58.45, with a volume of 463,696 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently commented on SANM shares. Fox Advisors started coverage on Sanmina in a research note on Wednesday, March 6th. They set an "overweight" rating and a $80.00 price objective on the stock. Bank of America reissued an "underperform" rating and issued a $45.00 price target on shares of Sanmina in a research note on Friday, December 15th.

Sanmina Trading Up 1.3 %

The business has a fifty day moving average price of $61.29 and a 200 day moving average price of $54.80. The company has a market capitalization of $3.36 billion, a PE ratio of 12.62, a P/E/G ratio of 0.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.23 and a current ratio of 1.99.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its earnings results on Monday, January 29th. The electronics maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $1.49 EPS. The company's revenue was down 20.4% on a year-over-year basis. Analysts expect that Sanmina Co. will post 4.7 EPS for the current fiscal year.

Insider Transactions at Sanmina

In other news, Director Susan A. Johnson sold 1,000 shares of Sanmina stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $60.64, for a total value of $60,640.00. Following the completion of the transaction, the director now owns 7,811 shares in the company, valued at approximately $473,659.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.09% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SANM. Envestnet Asset Management Inc. boosted its position in Sanmina by 519.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 972,312 shares of the electronics maker's stock valued at $7,209,000 after purchasing an additional 815,275 shares during the period. BlackRock Inc. grew its stake in shares of Sanmina by 6.9% in the first quarter. BlackRock Inc. now owns 10,964,625 shares of the electronics maker's stock worth $668,732,000 after purchasing an additional 705,600 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Sanmina by 216.0% in the second quarter. Goldman Sachs Group Inc. now owns 810,247 shares of the electronics maker's stock worth $33,002,000 after purchasing an additional 553,822 shares in the last quarter. Norges Bank bought a new position in shares of Sanmina in the fourth quarter worth $21,836,000. Finally, FMR LLC grew its stake in shares of Sanmina by 498.3% in the third quarter. FMR LLC now owns 489,308 shares of the electronics maker's stock worth $26,560,000 after purchasing an additional 407,528 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

Sanmina Company Profile

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.