Sanmina (NASDAQ:SANM) Sets New 52-Week High - Should You Buy?

Key Points

• Sanmina Corporation's share price reached a new 52-week high of $160.25 during trading, with the last trade recorded at $140.71 after closing at $114.08.
• The company has received recent upgrades from analysts, including a strong-buy rating from Wall Street Zen and a price target increase from Bank of America, indicating positive sentiment towards the stock.
• Sanmina reported earnings per share (EPS) of $1.53 for the last quarter, outperforming expectations, with revenues of $2.04 billion, reflecting a 10.9% year-over-year increase.

Sanmina Corporation (NASDAQ:SANM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $160.25 and last traded at $140.71, with a volume of 549668 shares. The stock had previously closed at $114.08.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. Bank of America upped their price objective on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Sanmina in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $94.50.

Sanmina Trading Up 24.4%

The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 1.35 and a beta of 1.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.91. The firm has a fifty day moving average price of $116.59 and a 200-day moving average price of $96.72.

Sanmina (NASDAQ:SANM - Get Free Report) last released its earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.11. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. Sanmina had a return on equity of 11.30% and a net margin of 3.22%.Sanmina's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. Sanmina has set its Q4 2025 guidance at 1.520-1.620 EPS. As a group, equities analysts anticipate that Sanmina Corporation will post 5.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SANM. Nuveen LLC acquired a new position in Sanmina during the first quarter worth about $50,510,000. Norges Bank acquired a new position in Sanmina during the second quarter worth about $63,671,000. Invesco Ltd. raised its stake in Sanmina by 42.4% during the second quarter. Invesco Ltd. now owns 1,251,678 shares of the electronics maker's stock worth $122,452,000 after acquiring an additional 372,829 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in Sanmina by 20.9% during the second quarter. Frontier Capital Management Co. LLC now owns 1,231,884 shares of the electronics maker's stock worth $120,515,000 after acquiring an additional 213,025 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Sanmina by 350.2% during the second quarter. Marshall Wace LLP now owns 186,582 shares of the electronics maker's stock worth $18,253,000 after acquiring an additional 145,136 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

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.

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