Sanmina (NASDAQ:SANM) Hits New 12-Month High - Time to Buy?

Sanmina Corporation (NASDAQ:SANM - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $103.04 and last traded at $102.61, with a volume of 65669 shares traded. The stock had previously closed at $102.34.

Wall Street Analyst Weigh In

Several brokerages have commented on SANM. Bank of America increased their target price on Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, June 9th. Wall Street Zen upgraded Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th.

Sanmina Trading Up 1.2%

The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $87.90 and a 200 day simple moving average of $82.40. The firm has a market capitalization of $5.53 billion, a P/E ratio of 23.95, a PEG ratio of 1.56 and a beta of 1.17.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) 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 firm had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The business's revenue was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that Sanmina Corporation will post 5.15 EPS for the current year.

Institutional Investors Weigh In On Sanmina

Several large investors have recently made changes to their positions in the company. Strs Ohio bought a new stake in shares of Sanmina in the first quarter worth about $1,196,000. Intech Investment Management LLC grew its position in Sanmina by 6.3% in the first quarter. Intech Investment Management LLC now owns 57,564 shares of the electronics maker's stock worth $4,385,000 after acquiring an additional 3,403 shares in the last quarter. Jane Street Group LLC grew its position in Sanmina by 572.5% in the first quarter. Jane Street Group LLC now owns 79,846 shares of the electronics maker's stock worth $6,083,000 after acquiring an additional 67,973 shares in the last quarter. Bayforest Capital Ltd grew its position in Sanmina by 228.9% in the first quarter. Bayforest Capital Ltd now owns 3,457 shares of the electronics maker's stock worth $263,000 after acquiring an additional 2,406 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Sanmina by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,287 shares of the electronics maker's stock worth $9,621,000 after acquiring an additional 12,061 shares in the last quarter. 92.71% of the stock is owned by institutional investors.

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.