Sanmina (NASDAQ:SANM) Sets New 52-Week High - Here's What Happened

Shares of Sanmina Corporation (NASDAQ:SANM - Get Free Report) hit 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. The stock had previously closed at $102.34.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SANM shares. Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Bank of America increased their price objective on shares of Sanmina from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Monday, June 9th.

Sanmina Stock Performance

The company's fifty day moving average price is $88.44 and its two-hundred day moving average price is $82.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.22 and a current ratio of 1.96. The firm has a market capitalization of $5.55 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new position in Sanmina in the first quarter valued at approximately $1,196,000. Intech Investment Management LLC raised its stake in shares of Sanmina by 6.3% during the first quarter. Intech Investment Management LLC now owns 57,564 shares of the electronics maker's stock valued at $4,385,000 after purchasing an additional 3,403 shares during the period. Jane Street Group LLC raised its stake in shares of Sanmina by 572.5% during the first quarter. Jane Street Group LLC now owns 79,846 shares of the electronics maker's stock valued at $6,083,000 after purchasing an additional 67,973 shares during the period. Bayforest Capital Ltd raised its stake in shares of Sanmina by 228.9% during the first quarter. Bayforest Capital Ltd now owns 3,457 shares of the electronics maker's stock valued at $263,000 after purchasing an additional 2,406 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Sanmina by 10.6% during 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 valued at $9,621,000 after purchasing an additional 12,061 shares during the period. 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.