Stock Worth Mentioning Today: What Will Happen to Sanmina Corp Next? The Stock Just Reaches 52-Week High

Stock Worth Mentioning Today: What Will Happen to Sanmina Corp Next? The Stock Just Reaches 52 Week High

The stock of Sanmina Corp (NASDAQ:SANM) hit a new 52-week high and has $44.80 target or 41.00% above today’s $31.77 share price. The 7 months bullish chart indicates low risk for the $2.34B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $44.80 price target is reached, the company will be worth $959.40M 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 450,340 shares traded hands. Sanmina Corp (NASDAQ:SANM) has risen 41.96% since April 19, 2016 and is uptrending. It has outperformed by 38.10% the S&P500.

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. Argus Research maintained the shares of SANM in a report on Wednesday, November 4 with “Buy” rating. Goldman Sachs downgraded the stock to “Neutral” rating in Thursday, October 22 report. The firm has “Buy” rating given on Friday, December 4 by B. Riley & Co. The firm has “Neutral” rating given on Tuesday, January 26 by Citigroup. The company was maintained on Tuesday, April 26 by B. Riley & Co. The stock has “Sector Perform” rating given by RBC Capital Markets on Tuesday, January 26. The firm has “Hold” rating given on Tuesday, September 22 by Zacks. RBC Capital Markets maintained it with “Underperform” rating and $18 target price in Tuesday, November 3 report. Goldman Sachs downgraded the shares of SANM in a report on Monday, August 3 to “Neutral” rating. The rating was upgraded by Longbow on Tuesday, July 21 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 increased to 1.15 in Q2 2016. Its up 0.20, from 0.95 in 2016Q1. The ratio increased, 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.
Us Commercial Bank De holds 231 shares or 0% of its portfolio. Victory owns 3,021 shares or 0% of their US portfolio. Tci Wealth last reported 0% of its portfolio in the stock. Morgan Stanley holds 523,318 shares or 0.01% of its portfolio. Nomura Asset Mgmt last reported 0% of its portfolio in the stock. Kennedy Capital Management Inc holds 0.14% or 254,879 shares in its portfolio. Oxford Asset Mgmt accumulated 0.24% or 212,304 shares. Nordea Investment Mgmt holds 0.01% or 109,700 shares in its portfolio. Leuthold Group Inc Limited Company, a Minnesota-based fund reported 158,118 shares. The Georgia-based Earnest Ptnrs Ltd Llc has invested 0.59% in Sanmina Corp (NASDAQ:SANM). Amalgamated Bancshares accumulated 8,783 shares or 0.01% of the stock. Arizona State Retirement Systems holds 38,225 shares or 0.01% of its portfolio. Livforsakringsbolaget Skandia Omsesidigt last reported 0.13% of its portfolio in the stock. Rbf Capital Ltd Liability has 0.05% invested in the company for 10,000 shares. Aperio Group Lc last reported 0% of its portfolio in the stock.

Insider Transactions: Since August 9, 2016, the stock had 0 insider buys, and 6 insider sales for $6.27 million net activity. The insider EULAU ROBERT K sold $3.32M. SHORTRIDGE WAYNE sold $104,216 worth of stock. REID ALAN McWILLIAMS had sold 10,000 shares worth $264,500. $1.54M worth of Sanmina Corp (NASDAQ:SANM) was sold by SOLA JURE on Tuesday, August 9. The insider Goldsberry John sold $350,382. 23,933 Sanmina Corp (NASDAQ:SANM) shares with value of $686,882 were sold by BONKE NEIL R.

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 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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