Bank of America Issues Positive Forecast for Sanmina (NASDAQ:SANM) Stock Price

Sanmina (NASDAQ:SANM - Free Report) had its price objective boosted by Bank of America from $95.00 to $100.00 in a research note released on Monday,Benzinga reports. Bank of America currently has a neutral rating on the electronics maker's stock.

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

Sanmina Trading Down 0.4%

SANM stock traded down $0.33 during midday trading on Monday, hitting $87.45. The company had a trading volume of 411,375 shares, compared to its average volume of 405,314. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.29 and a beta of 1.14. Sanmina has a 52 week low of $61.52 and a 52 week high of $91.12. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The stock's 50 day moving average price is $80.71 and its 200 day moving average price is $80.32.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly 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 company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The firm's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 EPS. As a group, equities research analysts expect that Sanmina will post 5.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SANM. Strs Ohio purchased a new stake in shares of Sanmina in the 1st quarter worth about $1,196,000. Intech Investment Management LLC lifted its holdings in Sanmina by 6.3% in the first quarter. Intech Investment Management LLC now owns 57,564 shares of the electronics maker's stock worth $4,385,000 after buying an additional 3,403 shares during the period. Jane Street Group LLC boosted its position in Sanmina by 572.5% during the 1st quarter. Jane Street Group LLC now owns 79,846 shares of the electronics maker's stock valued at $6,083,000 after acquiring an additional 67,973 shares in the last quarter. Bayforest Capital Ltd grew its holdings in shares of Sanmina by 228.9% during 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Sanmina by 10.6% during the 1st 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 owned by hedge funds and other institutional investors.

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.