Sanmina (NASDAQ:SANM) Lowered to Buy Rating by Wall Street Zen

Sanmina (NASDAQ:SANM) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Monday.

A number of other brokerages have also recently commented on SANM. Bank of America lifted their target price on shares of Sanmina from $100.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sanmina in a research report on Saturday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $94.50.

Sanmina Price Performance

Shares of NASDAQ:SANM opened at $133.77 on Monday. The stock has a market cap of $7.13 billion, a PE ratio of 28.64, a PEG ratio of 1.38 and a beta of 1.19. The company’s fifty day moving average is $120.67 and its 200 day moving average is $102.51. Sanmina has a 52 week low of $63.67 and a 52 week high of $160.25. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.11. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. Research analysts anticipate that Sanmina will post 5.15 earnings per share for the current year.

Institutional Investors Weigh In On Sanmina

A number of large investors have recently modified their holdings of the stock. Oliver Luxxe Assets LLC boosted its stake in shares of Sanmina by 2.0% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 26,906 shares of the electronics maker’s stock valued at $3,097,000 after purchasing an additional 534 shares in the last quarter. Forum Financial Management LP boosted its stake in shares of Sanmina by 10.9% during the 3rd quarter. Forum Financial Management LP now owns 2,431 shares of the electronics maker’s stock valued at $280,000 after purchasing an additional 239 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Sanmina by 6.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the electronics maker’s stock valued at $317,000 after purchasing an additional 168 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Sanmina by 113.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,778 shares of the electronics maker’s stock valued at $895,000 after purchasing an additional 4,128 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Sanmina during the 3rd quarter valued at about $196,000. Institutional investors 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.