Sanmina Corp [SANM] stock Resumed by BofA Securities analyst, price target now $45

Sanmina Corp [NASDAQ: SANM] surged by $14.28 during the normal trading session on while it closed the day at $64.91. The company report on January 29, 2024 at 4:02 PM that Sanmina’s First Quarter Fiscal 2024 Financial Results.

Sanmina Corporation (“Sanmina” or the “Company”) (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal first quarter ended December 30, 2023 and outlook for its fiscal second quarter ending March 30, 2024.

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Sanmina Corp stock has also gained 25.99% of its value over the past 7 days. However, SANM stock has inclined by 27.93% in the 3 months of the year. Over the past six months meanwhile, it has gained 5.61% and gained 26.36% year-on date.

The market cap for SANM stock reached $3.69 billion, with 56.83 million shares outstanding and 54.84 million shares in the current float. Compared to the average trading volume of 477.00K shares, SANM reached a trading volume of 4794092 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Sanmina Corp [SANM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SANM shares is $58.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SANM stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Sanmina Corp shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on December 15, 2023.

The Average True Range (ATR) for Sanmina Corp is set at 2.37, with the Price to Sales ratio for SANM stock in the period of the last 12 months amounting to 0.44. The Price to Book ratio for the last quarter was 1.70, with the Price to Cash per share for the same quarter was set at 11.11. Price to Free Cash Flow for SANM in the course of the last twelve months was 27.24 with Quick ratio for the last quarter at 1.23.

SANM stock trade performance evaluation

Sanmina Corp [SANM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.99. With this latest performance, SANM shares gained by 24.32% in over the last four-week period, additionally plugging by 5.61% over the last 6 months – not to mention a rise of 15.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SANM stock in for the last two-week period is set at 82.05, with the RSI for the last a single of trading hit 87.41, and the three-weeks RSI is set at 77.03 for Sanmina Corp [SANM]. The present Moving Average for the last 50 days of trading for this stock 50.92, while it was recorded at 53.78 for the last single week of trading, and 53.61 for the last 200 days.

Sanmina Corp [SANM]: An insightful look at the core fundamentals

Sanmina Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.23 and a Current Ratio set at 1.99.

Earnings per share (EPS) analysis for Sanmina Corp [SANM] stock

With the latest financial reports released by the company, Sanmina Corp posted 1.59/share EPS, while the average EPS was predicted by analysts to be reported at 1.55/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SANM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sanmina Corp go to -15.00%.

Sanmina Corp [SANM]: Institutional Ownership

The top three institutional holders of SANM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SANM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SANM stock with ownership which is approximately 5.8325%.