Stock Worth Watching: How Analysts Feel About Sanmina Corp After Today’s Big Decline?

Stock Worth Watching: How Analysts Feel About Sanmina Corp After Today's Big Decline?

The stock of Sanmina Corp (NASDAQ:SANM) is a huge mover today! About 439,044 shares traded hands or 9.12% up from the average. Sanmina Corp (NASDAQ:SANM) has risen 34.98% since March 9, 2016 and is uptrending. It has outperformed by 27.56% the S&P500.
The move comes after 5 months negative chart setup for the $1.97 billion company. It was reported on Oct, 12 by Barchart.com. We have $25.79 PT which if reached, will make NASDAQ:SANM worth $98.50 million less.

Analysts await Sanmina Corp (NASDAQ:SANM) to report earnings on November, 7. They expect $0.67 EPS, up 26.42% or $0.14 from last year’s $0.53 per share. SANM’s profit will be $48.62M for 10.13 P/E if the $0.67 EPS becomes a reality. After $0.56 actual EPS reported by Sanmina Corp for the previous quarter, Wall Street now forecasts 19.64% EPS growth.

Sanmina Corp (NASDAQ:SANM) Ratings Coverage

Out of 9 analysts covering Sanmina-SCI Corporation (NASDAQ:SANM), 3 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 33% are positive. Sanmina-SCI Corporation has been the topic of 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Sanmina Corp (NASDAQ:SANM) earned “Sector Perform” rating by RBC Capital Markets on Tuesday, January 26. The rating was upgraded by Longbow to “Neutral” on Tuesday, July 21. The rating was upgraded by RBC Capital Markets to “Sector Perform” on Wednesday, January 20. The stock has “Hold” rating given by Zacks on Tuesday, September 22. Argus Research maintained Sanmina Corp (NASDAQ:SANM) on Wednesday, November 4 with “Buy” rating. The rating was upgraded by Citigroup on Tuesday, January 26 to “Neutral”. RBC Capital Markets maintained Sanmina Corp (NASDAQ:SANM) on Tuesday, November 3 with “Underperform” rating. Citigroup downgraded Sanmina Corp (NASDAQ:SANM) on Friday, October 23 to “Sell” rating. Craig Hallum downgraded the shares of SANM in a report on Tuesday, July 26 to “Hold” rating. On Thursday, October 22 the stock rating was downgraded by Goldman Sachs to “Neutral”.

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 decreased to 0.95 in Q2 2016. Its down 0.38, from 1.33 in 2016Q1. The ratio dived, 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.
Tower Research Limited Liability Com (Trc) accumulated 3,707 shares or 0.01% of the stock. Chicago Equity Limited Liability Corp accumulated 0.04% or 45,580 shares. First Citizens Financial Bank And last reported 17,568 shares in the company. Cantab Capital Prns Limited Liability Partnership has invested 0% of its portfolio in Sanmina Corp (NASDAQ:SANM). Ls Inv Advisors Ltd Liability, a Michigan-based fund reported 2,673 shares. State Street reported 1.67M shares or 0% of all its holdings. Blackrock Advsrs Limited Liability Company accumulated 381,832 shares or 0.01% of the stock. Adams Diversified Equity Fund has 0.03% invested in the company for 17,100 shares. Teachers Advsr Inc last reported 0.04% of its portfolio in the stock. State Of Tennessee Treasury Department, a Tennessee-based fund reported 58,756 shares. Alpha Windward Ltd Com last reported 0.31% of its portfolio in the stock. The Massachusetts-based Massachusetts Fincl Serv Ma has invested 0% in Sanmina Corp (NASDAQ:SANM). Nomura Asset Co Limited holds 0% of its portfolio in Sanmina Corp (NASDAQ:SANM) for 2,750 shares. Comerica Bancorp holds 0.02% or 74,336 shares in its portfolio. Pub Sector Pension Invest Board, a Quebec – Canada-based fund reported 52,215 shares.

Insider Transactions: Since May 3, 2016, the stock had 0 insider buys, and 8 selling transactions for $3.17 million net activity. On Wednesday, August 24 REID ALAN McWILLIAMS sold $264,500 worth of the stock or 10,000 shares. Kostalnick Charles II sold $399,680 worth of Sanmina Corp (NASDAQ:SANM) on Monday, May 16. The insider SOLA JURE sold 58,531 shares worth $1.54M. $350,382 worth of shares were sold by Goldsberry John on Monday, August 29. SHORTRIDGE WAYNE had sold 4,000 shares worth $104,216 on Wednesday, August 10.

More notable recent Sanmina Corp (NASDAQ:SANM) news were published by: Investorplace.com which released: “Trade of the Day: Sanmina Corp (SANM) Poised for Growth” on October 12, 2016, also Fool.com with their article: “Why Sanmina Corp. Stock Plunged Today” published on July 26, 2016, Marketwatch.com published: “Sanmina Corp. NASDAQ: SANM” on July 22, 2009. More interesting news about Sanmina Corp (NASDAQ:SANM) were released by: Quotes.Wsj.com and their article: “News Sanmina Corp.SANM” published on February 11, 2011 as well as Fool.com‘s news article titled: “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 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, and global supply chain management.

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