Sanmina saw an improvement in its IBD SmartSelect Composite Rating Wednesday, from 94 to 96.
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The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. The best stocks tend to have a 95 or better grade as they kick off a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Sanmina is now out of buy range after breaking out from an 86.31 buy point in a cup with handle.
The stock has an 89 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 89% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
The company reported 22% earnings growth for Q3. Sales growth increased 11%, up from 8% in the prior quarter. The company has now posted increasing growth in each of the last five reports.
Sanmina earns the No. 5 rank among its peers in the Electronics-Contract Manufacturing industry group. Celestica is the top-ranked stock within the group.
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