Why Has B. Riley Given Sanmina-SCI Corporation (NASDAQ:SANM) a $26.00 Price Target
B. Riley have begun its coverage for Sanmina-SCI Corporation (NASDAQ:SANM), this morning Friday, 4 December. The financial firm found the stock of SANM quite attractive and now has a Estimated Target Price of $26.00 with a key “Buy” rating.
From a total of 7 analysts covering Sanmina-SCI Corporation (NASDAQ:SANM) stock, 4 rate it a ”Buy”, 3 a “Sell”, and 1 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $27 while the lowest target price is $18. The mean of all analyst targets is $22.43 with a 15.56% above today’s ($21.85) stock price. Sanmina-SCI Corporation was the topic of 9 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on November 4 with “Buy” rating. Citigroup downgraded SANM stock in a recent report from October 23 to “Sell” rating. Finally, Zacks downgraded the stock to “Hold” rating in a report issued on a September 22.
The stock closed the day at $21.85 during the previous session. It is down 3.51% since May 1, 2015 and is uptrending. It has outperformed by 6.29% the S&P500.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The company has a market cap of $1.71 billion. The Firm provides these offerings primarily to original equipment manufacturers , in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries. It has 4.87 P/E ratio. The Company’s activities are managed as two businesses such as Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS).
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.” Get a free copy of the Zacks research report on Sanmina Corp (SANM).