Argus Research analyst Jim Kelleher reiterated a Buy rating on Sanmina-Sci (SANM – Research Report) on May 26 and set a price target of $50.00. The company’s shares closed last Friday at $46.05, close to its 52-week high of $46.40.
According to TipRanks.com, Kelleher is a top 25 analyst with an average return of 30.2% and a 69.4% success rate. Kelleher covers the Technology sector, focusing on stocks such as ASML Holding, Twitter, and Qorvo.
Currently, the analyst consensus on Sanmina-Sci is a Moderate Buy with an average price target of $53.67.
Based on Sanmina-Sci’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.91 billion and net profit of $53.22 million. In comparison, last year the company earned revenue of $1.7 billion and had a net profit of $47.04 million.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SANM in relation to earlier this year. Most recently, in March 2022, Mario Rosati, a Director at SANM bought 6,449 shares for a total of $74,679.
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Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics, and after-market services. It operates through the Integrated Manufacturing Solutions (IMS); and Components, Products, and Services (CPS) segment. The IMS segment consists of printed circuit board assembly and test, final system assembly and test, and direct-order-fulfillment. The CPS segment includes interconnect systems and mechanical systems. The company was founded by Jure Sola in 1980 and is headquartered in San Jose, CA.
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