Bank of America Issues Positive Forecast for Sanmina (NASDAQ:SANM) Stock Price

Sanmina (NASDAQ:SANM - Get Free Report) had its price target raised by research analysts at Bank of America from $100.00 to $120.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the electronics maker's stock. Bank of America's target price points to a potential upside of 14.37% from the stock's current price.

Separately, Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

Sanmina Stock Performance

SANM traded up $0.75 during trading hours on Friday, hitting $104.92. The stock had a trading volume of 473,126 shares, compared to its average volume of 418,279. The company's fifty day simple moving average is $89.43 and its 200 day simple moving average is $82.98. Sanmina has a 1 year low of $61.52 and a 1 year high of $105.72. The stock has a market cap of $5.61 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.84% and a net margin of 3.09%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $1.30 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts anticipate that Sanmina will post 5.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SANM. Summit Investment Advisors Inc. boosted its position in shares of Sanmina by 2.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,620 shares of the electronics maker's stock valued at $425,000 after acquiring an additional 121 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Sanmina by 1.2% during the 1st quarter. XTX Topco Ltd now owns 11,886 shares of the electronics maker's stock valued at $905,000 after acquiring an additional 140 shares during the last quarter. Mariner LLC boosted its position in shares of Sanmina by 3.5% during the 4th quarter. Mariner LLC now owns 4,510 shares of the electronics maker's stock valued at $341,000 after acquiring an additional 152 shares during the last quarter. Xponance Inc. boosted its position in shares of Sanmina by 3.4% during the 1st quarter. Xponance Inc. now owns 4,687 shares of the electronics maker's stock valued at $357,000 after acquiring an additional 152 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Sanmina by 1.8% during the 1st quarter. Hsbc Holdings PLC now owns 8,659 shares of the electronics maker's stock valued at $659,000 after acquiring an additional 152 shares during the last quarter. Hedge funds and other 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.