Sanmina Corporation (NASDAQ:SANM) posted its quarterly earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by $0.01, Bloomberg Earnings reports. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm earned $0.63 EPS. The company’s revenue was up 2.5% on a year-over-year basis. Sanmina Corporation updated its Q4 guidance to $0.73-0.79 EPS.
Sanmina Corporation (NASDAQ SANM) remained flat at $35.20 during mid-day trading on Friday. 307,264 shares of the company’s stock were exchanged. Sanmina Corporation has a one year low of $26.00 and a one year high of $42.95. The company has a market capitalization of $2.65 billion, a PE ratio of 12.86 and a beta of 0.78. The company’s 50-day moving average is $37.82 and its 200-day moving average is $38.53.
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Several research analysts have commented on the stock. Zacks Investment Research cut shares of Sanmina Corporation from a “hold” rating to a “strong sell” rating in a report on Friday, July 28th. ValuEngine upgraded shares of Sanmina Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Sanmina Corporation in a report on Tuesday, July 25th. Royal Bank Of Canada lowered their target price on shares of Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating for the company in a report on Tuesday, July 25th. Finally, Bank of America Corporation restated a “buy” rating and issued a $48.00 target price on shares of Sanmina Corporation in a report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $42.80.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $38.40, for a total value of $384,000.00. Following the completion of the transaction, the vice president now owns 200,000 shares of the company’s stock, valued at $7,680,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 30,000 shares of company stock valued at $1,133,200. 4.96% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC increased its position in shares of Sanmina Corporation by 4.1% in the second quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock valued at $133,000 after buying an additional 138 shares during the period. Riverhead Capital Management LLC increased its position in shares of Sanmina Corporation by 70.7% in the second quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after buying an additional 1,627 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Sanmina Corporation during the second quarter valued at about $203,000. Nisa Investment Advisors LLC increased its position in shares of Sanmina Corporation by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after buying an additional 200 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in shares of Sanmina Corporation during the first quarter valued at about $209,000. 94.91% of the stock is owned by institutional investors.
About Sanmina Corporation
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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