Sanmina Corp (SANM) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 25

Sanmina Corp (SANM) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 25 from a previous price target of $22 . RBC Capital Mkts advised their investors in a research report released on Apr 26, 2016.

On the company’s financial health, Sanmina Corp reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $0.56. The company had revenue of $1.61 million for the quarter, compared to analysts expectations of $1591.33 million. The company’s revenue was down -99.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.

Sanmina Corp opened for trading at $21.89 and hit $22.0948 on the upside on Friday, eventually ending the session at $22.03, with a gain of 0.64% or 0.14 points. The heightened volatility saw the trading volume jump to 3,97,955 shares. Company has a market cap of $1,700 M.

In a different news, on Feb 26, 2016, Wayne Shortridge (director) sold 3,000 shares at $20.28 per share price. According to the SEC, on Nov 25, 2015, David Robert Anderson (SVP & Corp Controller) sold 19,576 shares at $23.05 per share price. On Nov 25, 2015, Alan Mcwilliams Reid (EVP, Global Human Resources) sold 5,000 shares at $22.76 per share price, according to the Form-4 filing with the securities and exchange commission.

Sanmina Corporation is a provider of integrated manufacturing solutions components products and repair logistics and after-market services. The Company 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. Its operations 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.

Sanmina Corp

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