Needham & Company Reiterates a 'Buy' on Sanmina-SCI (SANM); Delivers F1Q Toward Low-End Of Expectations While Guidance Suggests Slowness Continues

Needham & Company reiterates a 'Buy' on Sanmina-SCI Corp. (NASDAQ: SANM) price target of $12.00.

Needham analyst says, "SANM is experiencing soft demand at multiple customers while new ramps have yet to sustainably reinvigorate the top-line. However, we expect the broader environment to improve in 2HF12 in parallel with ramps in Comm (LTE), Storage and other areas. As shares may drop near tangible book near-term, we see an attractive entry point for long-term investors."

"F2Q12 now $1.50B in revs. & $0.27. vs, prior $1.54B & $0.33. F12 now $6.23B & $1.36, vs. prior $6.60B & $1.66."

For an analyst ratings summary and ratings history on Sanmina-SCI Corp. click here. For more ratings news on Sanmina-SCI Corp. click here.

Shares of Sanmina-SCI Corp. closed at $10.50 yesterday.

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