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Downgrade Alert for Sanmina-SCI (SANM)

By Shiri Gupta

Sanmina-SCI (NASDAQ:SANM) was downgraded from Buy to Hold at Cross Research today. The stock closed yesterday at $27.65 on volume of 711,000 shares, above average daily volume of 538,000.

Sanmina-SCI (NASDAQ:SANM) defies analysts with a current price ($27.65) 11.1% above its average consensus price target of $24.57. Sanmina-SCI shares have support at the 50-day moving average (MA) of $22.33 and additional support at the 200-day MA of $21.21.

Sanmina-SCI Corporation provides electronics contract manufacturing services to customers located around the world. The Company offers its customers expertise in new product introduction, manufacturing, and design and fabrication of complex interconnect products. Sanmina-SCI specializes in circuit fabrication, system assembly, integration, and high-end enclosures and cabling.

Over the past year, Sanmina-SCI has traded in a range of $16.31 to $29.70 and closed yesterday at $27.65, 70% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.4%.

SmarTrend is tracking the current trend status for Sanmina-SCI and will alert subscribers who have SANM in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades sanmina-sci

Ticker(s): SANM