Sanmina (NASDAQ:SANM) Upgraded at Wall Street Zen

Sanmina (NASDAQ:SANM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

Separately, Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $58.00 to $92.00 in a report on Wednesday, January 29th.

Sanmina Price Performance

NASDAQ:SANM traded down $0.67 during trading hours on Friday, hitting $83.95. 413,001 shares of the company's stock traded hands, compared to its average volume of 400,139. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The business's fifty day simple moving average is $78.59 and its two-hundred day simple moving average is $79.77. Sanmina has a 52 week low of $61.52 and a 52 week high of $91.12. The firm has a market cap of $4.49 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.29 and a beta of 1.10.

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, topping the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company's revenue was up 8.1% compared to the same quarter last year. On average, research analysts anticipate that Sanmina will post 5.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Barclays PLC increased its holdings in Sanmina by 296.3% during the 3rd quarter. Barclays PLC now owns 92,863 shares of the electronics maker's stock valued at $6,358,000 after purchasing an additional 69,431 shares during the period. JPMorgan Chase & Co. increased its holdings in Sanmina by 32.4% during 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 period. Nisa Investment Advisors LLC increased its holdings in Sanmina by 6.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock valued at $166,000 after purchasing an additional 125 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Sanmina during the 4th quarter worth approximately $2,644,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Sanmina by 9.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 106,247 shares of the electronics maker's stock worth $8,018,000 after acquiring an additional 8,962 shares during the period. Hedge funds and other institutional investors 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.