Sanmina (NASDAQ:SANM) Sets New 52-Week High - What's Next?

Key Points

• Sanmina Corporation's stock hit a new 52-week high of $125.76 during trading, closing at $120.34 with a volume of 769,058 shares.
• Wall Street analysts have shown mixed sentiments, with a downgrade to a "buy" rating from Wall Street Zen and a price target increase from Bank of America from $100 to $120.
• The company reported a 10.9% year-over-year revenue increase to $2.04 billion, surpassing estimates, alongside a quarterly EPS of $1.53.

Sanmina Corporation (NASDAQ:SANM - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $125.76 and last traded at $120.34, with a volume of 769058 shares. The stock had previously closed at $123.84.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America boosted their price target on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen downgraded shares of Sanmina from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th.

Sanmina Stock Up 0.1%

The company's fifty day simple moving average is $102.87 and its 200-day simple moving average is $88.36. The firm has a market capitalization of $6.24 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21.

Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.11. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.98 billion. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. The firm's revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. On average, analysts forecast that Sanmina Corporation will post 5.15 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SANM. TD Waterhouse Canada Inc. grew its position in shares of Sanmina by 27.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 398 shares of the electronics maker's stock valued at $39,000 after acquiring an additional 85 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Sanmina by 2.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,620 shares of the electronics maker's stock valued at $425,000 after buying an additional 121 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Sanmina by 1.5% during the 2nd quarter. Bank of Montreal Can now owns 8,814 shares of the electronics maker's stock worth $862,000 after buying an additional 128 shares during the period. Moloney Securities Asset Management LLC lifted its position in shares of Sanmina by 3.9% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 3,668 shares of the electronics maker's stock valued at $359,000 after buying an additional 138 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in Sanmina by 1.2% in 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 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.