Sanmina (NASDAQ:SANM) Stock Price Expected to Rise, Bank of America Analyst Says

Sanmina (NASDAQ:SANM - Get Free Report) had its target price raised by Bank of America from $95.00 to $100.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the electronics maker's stock. Bank of America's price objective would indicate a potential upside of 14.16% from the stock's current price.

Separately, Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

Sanmina Stock Up 0.5%

Shares of NASDAQ SANM traded up $0.44 during trading hours on Monday, hitting $87.60. The stock had a trading volume of 65,372 shares, compared to its average volume of 405,042. The company has a market capitalization of $4.68 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.29 and a beta of 1.14. The firm's 50-day moving average price is $79.71 and its two-hundred day moving average price is $80.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. Sanmina has a 52 week low of $61.52 and a 52 week high of $91.12.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.97 billion. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The firm's revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $1.30 earnings per share. Analysts anticipate that Sanmina will post 5.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Sanmina

Several hedge funds have recently modified their holdings of SANM. JPMorgan Chase & Co. boosted its stake in shares of Sanmina by 32.4% in the 4th quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker's stock valued at $51,092,000 after purchasing an additional 165,285 shares during the last quarter. Squarepoint Ops LLC grew its stake in Sanmina by 60.0% in the 4th quarter. Squarepoint Ops LLC now owns 40,546 shares of the electronics maker's stock valued at $3,068,000 after buying an additional 15,197 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Sanmina in the fourth quarter valued at approximately $2,644,000. Allspring Global Investments Holdings LLC boosted its stake in Sanmina by 9.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,247 shares of the electronics maker's stock valued at $8,018,000 after buying an additional 8,962 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Sanmina by 24.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,000 shares of the electronics maker's stock worth $454,000 after buying an additional 1,164 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

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.

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