Sanmina (NASDAQ:SANM) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Sanmina (NASDAQ:SANM) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Sanmina Stock Performance

Shares of SANM opened at $71.35 on Wednesday. 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 has a 52-week low of $43.40 and a 52-week high of $76.84. The stock has a 50 day moving average price of $67.64 and a 200 day moving average price of $67.31. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.60 and a beta of 0.89.

Insider Activity at Sanmina

In related news, CEO Jure Sola sold 82,328 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $69.67, for a total value of $5,735,791.76. Following the completion of the sale, the chief executive officer now directly owns 1,198,594 shares of the company’s stock, valued at $83,506,043.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Krish A. Prabhu sold 4,803 shares of Sanmina stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total value of $323,674.17. Following the transaction, the director now directly owns 19,166 shares of the company’s stock, valued at $1,291,596.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jure Sola sold 82,328 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the sale, the chief executive officer now owns 1,198,594 shares of the company’s stock, valued at approximately $83,506,043.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,632 shares of company stock valued at $6,644,760 in the last ninety days. Insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SANM. GAMMA Investing LLC boosted its stake in shares of Sanmina by 108.4% during the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after buying an additional 257 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Sanmina by 24.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after acquiring an additional 164 shares during the last quarter. Innealta Capital LLC acquired a new stake in Sanmina during the 2nd quarter worth approximately $116,000. CWM LLC grew its stake in shares of Sanmina by 40.5% in the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after purchasing an additional 513 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Sanmina by 16.3% in the third quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker’s stock valued at $146,000 after purchasing an additional 299 shares during the period. 92.71% of the stock is currently owned by institutional investors and hedge funds.

About Sanmina

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.