Sanmina (NASDAQ:SANM) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Sanmina has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, signaling a change in analyst sentiment regarding the stock.
• Bank of America raised its price target for Sanmina from $100.00 to $120.00 while maintaining a "neutral" rating, reflecting a more cautious outlook.
• In its latest earnings report, Sanmina outperformed analysts' expectations with $1.53 earnings per share, up from $1.25 the previous year, and reported a revenue increase of 10.9% year-over-year.

Wall Street Zen cut shares of Sanmina (NASDAQ:SANM - Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday.

Separately, Bank of America upped their price objective on shares of Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday, July 11th.

Sanmina Price Performance

SANM traded up $4.68 on Friday, reaching $123.84. The company had a trading volume of 363,424 shares, compared to its average volume of 507,643. The business has a 50 day simple moving average of $100.30 and a 200 day simple moving average of $87.30. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 1.78 and a beta of 1.14. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.91. Sanmina has a 52-week low of $62.76 and a 52-week high of $123.89.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.11. The business had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.98 billion. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The business's quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $1.25 earnings per share. As a group, sell-side analysts anticipate that Sanmina will post 5.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sanmina by 265.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 365 shares of the electronics maker's stock worth $28,000 after purchasing an additional 265 shares during the last quarter. Banque Transatlantique SA bought a new stake in Sanmina in the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in Sanmina by 200.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 405 shares of the electronics maker's stock valued at $31,000 after acquiring an additional 270 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Sanmina by 27.2% in the second quarter. TD Waterhouse Canada Inc. now owns 398 shares of the electronics maker's stock valued at $39,000 after acquiring an additional 85 shares in the last quarter. Finally, MAI Capital Management bought a new stake in Sanmina in the second quarter valued at $41,000. Institutional investors 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.