Shares of Sanmina Corporation (NASDAQ:SANM - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $91.39 and last traded at $91.00, with a volume of 119662 shares trading hands. The stock had previously closed at $89.85.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on SANM shares. Bank of America raised their price target on shares of Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.
Check Out Our Latest Analysis on Sanmina
Sanmina Price Performance
The firm has a market cap of $4.90 billion, a PE ratio of 21.22, a P/E/G ratio of 1.38 and a beta of 1.14. The firm's fifty day simple moving average is $82.76 and its two-hundred day simple moving average is $80.80. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.12.
Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The business's revenue was up 8.1% on a year-over-year basis. As a group, research analysts expect that Sanmina Corporation will post 5.15 EPS for the current year.
Hedge Funds Weigh In On Sanmina
Several hedge funds have recently added to or reduced their stakes in SANM. Strs Ohio bought a new position in Sanmina in the 1st quarter valued at $1,196,000. Intech Investment Management LLC lifted its holdings in Sanmina by 6.3% during the 1st quarter. Intech Investment Management LLC now owns 57,564 shares of the electronics maker's stock valued at $4,385,000 after buying an additional 3,403 shares in the last quarter. Jane Street Group LLC boosted its position in Sanmina by 572.5% in the 1st quarter. Jane Street Group LLC now owns 79,846 shares of the electronics maker's stock valued at $6,083,000 after buying an additional 67,973 shares during the period. Bayforest Capital Ltd grew its stake in Sanmina by 228.9% in the 1st 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 increased its position 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 worth $9,621,000 after acquiring an additional 12,061 shares during the period. 92.71% of the stock is currently owned by institutional investors.
About Sanmina
(
Get Free Report)
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.
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