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

Sanmina Corporation (NASDAQ:SANM - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $98.54 and last traded at $97.33, with a volume of 117969 shares changing hands. The stock had previously closed at $98.07.

Analyst Ratings Changes

SANM has been the topic of several recent analyst reports. Wall Street Zen raised 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 company a "neutral" rating in a report on Monday, June 9th.

Sanmina Trading Down 0.2%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 1.22. The firm has a market capitalization of $5.23 billion, a PE ratio of 22.65, a P/E/G ratio of 1.51 and a beta of 1.14. The company's fifty day simple moving average is $85.23 and its 200-day simple moving average is $81.46.

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

Institutional Investors Weigh In On Sanmina

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its position in shares of Sanmina by 14.2% in the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock valued at $148,239,000 after buying an additional 243,258 shares during the last quarter. Franklin Resources Inc. raised its stake in Sanmina by 39.6% during the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock worth $139,407,000 after purchasing an additional 522,534 shares during the period. Geode Capital Management LLC raised its stake in Sanmina by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker's stock worth $116,277,000 after purchasing an additional 21,239 shares during the period. Earnest Partners LLC raised its stake in Sanmina by 1.8% during the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker's stock worth $81,256,000 after purchasing an additional 19,144 shares during the period. Finally, Frontier Capital Management Co. LLC raised its stake in Sanmina by 9.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker's stock worth $76,060,000 after purchasing an additional 90,627 shares during the period. 92.71% of the stock is currently owned by institutional investors and hedge funds.

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.