Sanmina Hits 52-Week High With 100% Buy Signal

Sanmina (SANM) reached a new 52-week high on July 7, with a 100% “Buy” signal. The stock is up 53% in the past year and 35% year-to-date. Despite technical strength, analysts rate SANM as a “Hold” due to valuation concerns. The company is valued at $5.42 billion and specializes in electronics contract manufacturing and hyperscale data center infrastructure.

SANM shares hit $103.10 on July 7, a new high, and are trading slightly below that level. The stock has a 100% technical “Buy” signal, trading above its 50-day moving average. It has gained 53.66% over the past year, with a Weighted Alpha of +54.51. SANM is above its 20, 50, and 100-day moving averages, making 16 new highs in the last month.

Sanmina is a volatile and speculative stock, with mixed analyst opinions. Wall Street analysts rate SANM as a “Hold,” while Value Line gives it an above-average rating. Major advisory sites caution that the stock may be overpriced for further appreciation. 5,880 investors monitor SANM on Seeking Alpha, also rating it a “Hold.” The stock is currently experiencing momentum and hitting new highs, but caution and risk management are advised.

Read more at Yahoo Finance: This Underrated AI Stock Is Up 53% in the Past Year