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Sanmina-SCI: 52-Week High Recently Eclipsed (SANM)

Published on Fri, 05/10/2013 - 14:33
By Adrienne Chilton

Sanmina-SCI (NASDAQ:SANM) traded at a new 52-week high today of $13.22. Approximately 272,000 shares have changed hands today, as compared to an average 30-day volume of 591,000 shares.

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.

Based on a current price of $13.11, Sanmina-SCI is currently 10.9% above its average consensus analyst price target of $11.69. The stock should find initial support at its 50-day moving average (MA) of $11.54 and further support at its 200-day MA of $9.95.

In the past 52 weeks, shares of Sanmina-SCI have traded between a low of $6.62 and a high of $13.22 and are now at $13.11, which is 98% above that low price. The 200-day and 50-day moving averages have moved 1.10% higher and 2.00% higher over the past week, respectively.

By Adrienne Chilton