Breaking: Will Sanmina Corp Go Down Anytime Soon?

Breaking: Will Sanmina Corp Go Down Anytime Soon?

The stock of Sanmina Corp (NASDAQ:SANM) is a huge mover today! The stock increased 3.78% or $1.2 on November 23, hitting $32.95. About 538,466 shares traded hands. Sanmina Corp (NASDAQ:SANM) has risen 49.57% since April 22, 2016 and is uptrending. It has outperformed by 44.16% the S&P500.
The move comes after 9 months positive chart setup for the $2.42 billion company. It was reported on Nov, 24 by Barchart.com. We have $34.93 PT which if reached, will make NASDAQ:SANM worth $145.20 million more.

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 $48.47M for 12.48 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 “Buy” rating given on Wednesday, November 4 by Argus Research. On Tuesday, April 26 the stock rating was maintained by B. Riley & Co with “Buy”. Citigroup upgraded the stock to “Neutral” rating in Tuesday, January 26 report. The stock of Sanmina Corp (NASDAQ:SANM) earned “Neutral” rating by Goldman Sachs on Thursday, October 22. The firm earned “Hold” rating on Monday, October 31 by Cross Research. On Friday, December 4 the stock rating was initiated by B. Riley & Co with “Buy”. The stock of Sanmina Corp (NASDAQ:SANM) has “Sell” rating given on Friday, October 23 by Citigroup. As per Tuesday, November 3, the company rating was maintained by RBC Capital Markets. Needham maintained it with “Buy” rating and $33 target price in Wednesday, November 2 report. Craig Hallum downgraded Sanmina Corp (NASDAQ:SANM) on Tuesday, July 26 to “Hold” rating.

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.
Hanseatic Mgmt Services accumulated 121 shares or 0% of the stock. Meeder Asset Management last reported 26,668 shares in the company. Tower Cap Ltd Limited Liability Company (Trc) accumulated 0.01% or 3,707 shares. The New York-based Goldman Sachs Gru has invested 0% in Sanmina Corp (NASDAQ:SANM). Stevens Cap Mgmt Ltd Partnership owns 18,097 shares or 0.02% of their US portfolio. The Maine-based Schroder Mgmt has invested 0% in Sanmina Corp (NASDAQ:SANM). Nationwide Fund Advisors holds 317,338 shares or 0.04% of its portfolio. Fincl Bank Of America Corporation De last reported 306,501 shares in the company. Trexquant Lp last reported 0.04% of its portfolio in the stock. The California-based Lpl Financial Limited Liability Co has invested 0% in Sanmina Corp (NASDAQ:SANM). Citadel Limited Liability Company holds 45,724 shares or 0% of its portfolio. Principal Gru accumulated 534,001 shares or 0.02% of the stock. Sector Pension Invest Board, a Quebec – Canada-based fund reported 52,215 shares. Citigroup reported 48,431 shares or 0% of all its holdings. Pacific Heights Asset Limited Liability Company last reported 1.12% of its portfolio in the stock.

Insider Transactions: Since August 9, 2016, the stock had 0 buys, and 12 selling transactions for $11.06 million net activity. $350,382 worth of shares were sold by Goldsberry John on Monday, August 29. $190,413 worth of Sanmina Corp (NASDAQ:SANM) was sold by SHORTRIDGE WAYNE on Monday, November 21. The insider EULAU ROBERT K sold 109,754 shares worth $3.32 million. 10,000 shares were sold by REID ALAN McWILLIAMS, worth $264,500 on Wednesday, August 24. ANDERSON DAVID ROBERT had sold 20,219 shares worth $639,662 on Monday, November 21. 58,531 Sanmina Corp (NASDAQ:SANM) shares with value of $1.54M were sold by SOLA JURE. On Tuesday, November 22 the insider WARD JACKIE M sold $664,360.

More notable 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 with their article: “Sanmina Corp. NASDAQ: SANM” published on July 22, 2009, Quotes.Wsj.com published: “News Sanmina Corp.SANM” on February 11, 2011. More interesting news about Sanmina Corp (NASDAQ:SANM) were released by: Fool.com and their article: “Why Sanmina Corp. Jumped 20% Tuesday” published on November 03, 2015 as well as Streetinsider.com‘s news article titled: “Form 4 SANMINA CORP For: Nov 22 Filed by: WARD JACKIE M” with publication date: November 23, 2016.

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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