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

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 changing hands. The stock had previously closed at $102.34.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. 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 lifted their target price on shares of Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Monday, June 9th.

Sanmina Stock Up 0.9%

The business has a 50-day moving average price of $88.44 and a two-hundred day moving average price of $82.54. 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 firm has a market cap of $5.58 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.59 and a beta of 1.17.

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

Institutional Investors Weigh In On Sanmina

Several hedge funds and other institutional investors have recently bought and sold shares of SANM. Northwestern Mutual Wealth Management Co. boosted its position in Sanmina by 265.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 365 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 265 shares during the period. Banque Transatlantique SA acquired a new position in Sanmina during the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd increased its position in Sanmina by 200.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 405 shares of the electronics maker's stock worth $31,000 after purchasing an additional 270 shares during the last quarter. Quarry LP increased its position in Sanmina by 5,883.3% in the 1st quarter. Quarry LP now owns 718 shares of the electronics maker's stock worth $55,000 after purchasing an additional 706 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sanmina during the 4th quarter valued at about $90,000. 92.71% of the stock is currently owned by hedge funds and other 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.