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Watch for Continued Gains in Shares of Sanmina-SCI (SANM)

Published on Mon, 05/13/2013 - 14:29
By Peter Chu

Shares of Sanmina-SCI (NASDAQ:SANM) traded today at $13.62, breaking its 52-week high. This new high was reached on below average trading volume as 355,000 shares traded hands, while the average 30-day volume is approximately 594,000 shares.

Sanmina-SCI (NASDAQ:SANM) is currently priced 13.7% above its average consensus analyst price target of $11.69. The stock should find initial support at its 50-day moving average (MA) of $11.60 and further support at its 200-day MA of $9.98.

In the past 52 weeks, Sanmina-SCI share prices have been bracketed by a low of $6.62 and a high of $13.62 and are now at $13.54, 105% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.6% while the 200-day MA has risen 1.4%.

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.

By Peter Chu