Sanmina (NASDAQ:SANM) Rating Increased to Strong-Buy at Wall Street Zen

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

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

Sanmina Price Performance

Shares of SANM stock traded down $0.25 during trading on Friday, hitting $84.20. The company had a trading volume of 412,782 shares, compared to its average volume of 397,739. The firm has a market capitalization of $4.50 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. Sanmina has a one year low of $61.52 and a one year high of $91.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06. The stock's 50-day moving average price is $78.11 and its 200 day moving average price is $79.68.

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 business had revenue of $1.98 billion during 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%. Sanmina's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Equities analysts expect that Sanmina will post 5.15 EPS for the current fiscal year.

Sanmina declared that its board has approved a share repurchase program on Monday, January 27th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Institutional Trading of Sanmina

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its stake in Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker's stock worth $6,358,000 after acquiring an additional 69,431 shares in the last quarter. Park Avenue Securities LLC increased its position in Sanmina by 3.3% during the 4th quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker's stock worth $303,000 after purchasing an additional 129 shares in the last quarter. Atomi Financial Group Inc. increased its position in Sanmina by 5.0% during the 4th quarter. Atomi Financial Group Inc. now owns 5,028 shares of the electronics maker's stock worth $380,000 after purchasing an additional 240 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Sanmina by 6.0% in 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 last quarter. Finally, SG Americas Securities LLC lifted its stake in Sanmina by 36.8% in the 4th quarter. SG Americas Securities LLC now owns 5,800 shares of the electronics maker's stock valued at $439,000 after purchasing an additional 1,559 shares during the last quarter. 92.71% of the stock is currently owned by 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.