Sanmina (NASDAQ:SANM) Stock Rating Upgraded by StockNews.com

Sanmina (NASDAQ:SANM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Separately, Craig Hallum raised their target price on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday.

Sanmina Price Performance

Shares of NASDAQ:SANM opened at $83.27 on Thursday. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.55 billion, a PE ratio of 21.30, a PEG ratio of 1.35 and a beta of 0.89. The company’s fifty day moving average is $68.68 and its 200 day moving average is $67.98. Sanmina has a 52 week low of $45.80 and a 52 week high of $86.05.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the company posted $1.20 EPS. Sanmina’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts anticipate that Sanmina will post 5.07 earnings per share for the current year.

Hedge Funds Weigh In On Sanmina

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Sanmina by 108.4% in the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 257 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after purchasing an additional 164 shares during the period. Innealta Capital LLC bought a new stake in shares of Sanmina during the 2nd quarter valued at about $116,000. CWM LLC increased its position in shares of Sanmina by 40.5% during the third quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after buying an additional 513 shares during the period. Finally, KBC Group NV raised its stake in Sanmina by 25.5% in the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock worth $124,000 after buying an additional 368 shares in the last quarter. 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.