The stock of Sanmina Corp (NASDAQ:SANM) hit a new 52-week high and has $35.41 target or 5.00% above today’s $33.72 share price. The 6 months bullish chart indicates low risk for the $2.48 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $35.41 price target is reached, the company will be worth $124.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 277,035 shares traded hands. Sanmina Corp (NASDAQ:SANM) has risen 36.76% since April 26, 2016 and is uptrending. It has outperformed by 31.50% the S&P500.
Analysts await Sanmina Corp (NASDAQ:SANM) to report earnings on January, 23. They expect $0.66 EPS, up 20.00% or $0.11 from last year’s $0.55 per share. SANM’s profit will be $48.54 million for 12.77 P/E if the $0.66 EPS becomes a reality. After $0.64 actual EPS reported by Sanmina Corp for the previous quarter, Wall Street now forecasts 3.13% EPS growth.
Sanmina Corp (NASDAQ:SANM) Ratings Coverage
Out of 10 analysts covering Sanmina-SCI Corporation (NASDAQ:SANM), 3 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 30% are positive. Sanmina-SCI Corporation has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Underperform” rating by RBC Capital Markets given on Tuesday, November 3. On Monday, October 31 the stock rating was downgraded by Cross Research to “Hold”. The firm has “Neutral” rating given on Monday, August 3 by Goldman Sachs. The company was maintained on Wednesday, November 4 by Argus Research. The stock of Sanmina Corp (NASDAQ:SANM) has “Neutral” rating given on Tuesday, January 26 by Citigroup. The stock of Sanmina Corp (NASDAQ:SANM) earned “Buy” rating by B. Riley & Co on Tuesday, April 26. RBC Capital Markets upgraded it to “Sector Perform” rating and $18 target price in Wednesday, January 20 report. The rating was maintained by RBC Capital Markets with “Sector Perform” on Tuesday, January 26. The firm has “Sell” rating by Citigroup given on Friday, October 23. Craig Hallum downgraded the stock to “Hold” rating in Tuesday, July 26 report.
According to Zacks Investment Research, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California.”
Insitutional Activity: The institutional sentiment increased to 1.15 in 2016 Q2. Its up 0.20, from 0.95 in 2016Q1. The ratio is positive, as 16 funds sold all Sanmina Corp shares owned while 94 reduced positions. 40 funds bought stakes while 65 increased positions. They now own 67.20 million shares or 9.03% less from 73.86 million shares in 2016Q1.
Principal Fincl Grp Incorporated last reported 0.02% of its portfolio in the stock. Geode Capital Management Lc holds 707,882 shares or 0.01% of its portfolio. Mizuho Trust Bk Co Ltd has 0.03% invested in the company for 325,144 shares. Putnam Invs Ltd Co owns 229,380 shares or 0.01% of their US portfolio. Swiss National Bank & Trust, a Switzerland-based fund reported 129,500 shares. Kcg Holding has invested 0.01% of its portfolio in Sanmina Corp (NASDAQ:SANM). Ubs Asset Management Americas holds 0% of its portfolio in Sanmina Corp (NASDAQ:SANM) for 79,516 shares. Wellington Grp Limited Liability Partnership owns 138,457 shares or 0% of their US portfolio. Parametric Associate Ltd Co reported 270,137 shares or 0.01% of all its holdings. Piedmont Inv Advsr Limited Liability Corp holds 0% or 113 shares in its portfolio. Zacks Inv Management last reported 20,975 shares in the company. Barrow Hanley Mewhinney & Strauss Limited Liability owns 136,785 shares or 0.01% of their US portfolio. Hanseatic Mngmt Serv reported 121 shares or 0% of all its holdings. Bancshares Of New York Mellon Corporation last reported 0.01% of its portfolio in the stock. Blackrock Institutional Tru Na has 2.52M shares for 0.01% of their US portfolio.
Insider Transactions: Since August 9, 2016, the stock had 0 insider buys, and 13 insider sales for $11.34 million net activity. Shares for $350,382 were sold by Goldsberry John on Monday, August 29. $264,500 worth of shares were sold by REID ALAN McWILLIAMS on Wednesday, August 24. 20,219 Sanmina Corp (NASDAQ:SANM) shares with value of $639,662 were sold by ANDERSON DAVID ROBERT. BONKE NEIL R also sold $686,882 worth of Sanmina Corp (NASDAQ:SANM) shares. $614,579 worth of Sanmina Corp (NASDAQ:SANM) shares were sold by WARD JACKIE M. EULAU ROBERT K had sold 109,754 shares worth $3.32M on Thursday, November 10. Shares for $104,216 were sold by SHORTRIDGE WAYNE.
More important recent Sanmina Corp (NASDAQ:SANM) news were published by: Fool.com which released: “Why Sanmina Corp. Stock Plunged Today” on July 26, 2016, also Marketwatch.com published article titled: “Sanmina Corp. NASDAQ: SANM”, Quotes.Wsj.com published: “News Sanmina Corp.SANM” on February 11, 2011. More interesting news about Sanmina Corp (NASDAQ:SANM) was released by: Fool.com and their article: “Why Sanmina Corp. Jumped 20% Tuesday” with publication date: November 03, 2015.
SANM Company Profile
Sanmina Corporation, incorporated on May 9, 1989, is a well-known provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Firm provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries. The Company’s activities are managed as two businesses such as Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The Companyâ€™s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test, direct order fulfillment and logistics services, and after-market product service and support, and global supply chain management.
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