Sanmina (NASDAQ:SANM) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Sanmina (NASDAQ:SANM) from a buy rating to a hold rating in a research note released on Saturday.

Sanmina Stock Performance

SANM stock opened at $66.89 on Friday. Sanmina has a twelve month low of $43.40 and a twelve month high of $76.84. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.52 and a beta of 0.89. The business’s fifty day simple moving average is $68.34 and its two-hundred day simple moving average is $66.33. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, July 29th. The electronics maker reported $1.25 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.03). The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS. Analysts predict that Sanmina will post 4.24 earnings per share for the current year.

Insider Buying and Selling at Sanmina

In other Sanmina news, Director Eugene A. Delaney sold 8,688 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $74.83, for a total transaction of $650,123.04. Following the transaction, the director now directly owns 92,199 shares in the company, valued at $6,899,251.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sanmina news, Director Eugene A. Delaney sold 8,688 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $74.83, for a total transaction of $650,123.04. Following the sale, the director now owns 92,199 shares of the company’s stock, valued at approximately $6,899,251.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of Sanmina stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total value of $585,225.00. Following the completion of the transaction, the executive vice president now owns 26,679 shares in the company, valued at $1,836,849.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,320 shares of company stock valued at $7,294,883 in the last ninety days. Corporate insiders own 3.09% of the company’s stock.

Hedge Funds Weigh In On Sanmina

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Sanmina by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker’s stock worth $444,876,000 after purchasing an additional 45,918 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Sanmina by 8.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker’s stock worth $77,399,000 after acquiring an additional 86,492 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Sanmina by 14.0% during the second quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker’s stock worth $57,977,000 after acquiring an additional 107,474 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in shares of Sanmina by 10.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 747,191 shares of the electronics maker’s stock valued at $46,460,000 after acquiring an additional 69,300 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Sanmina by 11.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker’s stock valued at $38,323,000 after purchasing an additional 59,849 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.