Craig Hallum Issues Positive Forecast for Sanmina (NASDAQ:SANM) Stock Price

Sanmina (NASDAQ:SANM) had its price target increased by Craig Hallum from $62.00 to $69.00 in a report published on Tuesday, Benzinga reports. Craig Hallum currently has a hold rating on the electronics maker’s stock.

Separately, StockNews.com lowered Sanmina from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Sanmina Stock Up 2.2 %

Shares of NASDAQ SANM opened at $74.40 on Tuesday. The firm has a fifty day simple moving average of $67.82 and a two-hundred day simple moving average of $67.59. Sanmina has a 12 month low of $43.40 and a 12 month high of $76.84. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.07 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.63 and a beta of 0.89.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business posted $1.20 earnings per share. Sanmina’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that Sanmina will post 4.19 earnings per share for the current year.

Insider Buying and Selling

In other Sanmina news, CEO Jure Sola sold 82,328 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $69.67, for a total value of $5,735,791.76. Following the sale, the chief executive officer now directly owns 1,198,594 shares of the company’s stock, valued at approximately $83,506,043.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Empower Advisory Group LLC increased its position in shares of Sanmina by 1.0% during the third quarter. Empower Advisory Group LLC now owns 262,252 shares of the electronics maker’s stock valued at $17,951,000 after acquiring an additional 2,567 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Sanmina by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 406,994 shares of the electronics maker’s stock worth $27,859,000 after purchasing an additional 3,591 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Sanmina by 2.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 28,598 shares of the electronics maker’s stock worth $1,958,000 after purchasing an additional 777 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of Sanmina by 6.6% during the third quarter. Atria Investments Inc now owns 19,757 shares of the electronics maker’s stock valued at $1,352,000 after purchasing an additional 1,226 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Sanmina by 10.2% during the third quarter. Assetmark Inc. now owns 82,442 shares of the electronics maker’s stock valued at $5,643,000 after buying an additional 7,610 shares during the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

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.