StockNews.com lowered shares of Sanmina (NASDAQ:SANM - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.
Sanmina Stock Performance
Shares of SANM traded up $0.70 during trading hours on Friday, reaching $67.28. 158,263 shares of the company's stock traded hands, compared to its average volume of 382,426. Sanmina has a twelve month low of $43.40 and a twelve month high of $76.84. The business's fifty day simple moving average is $68.49 and its two-hundred day simple moving average is $66.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.52 and a beta of 0.89.
Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). The business had revenue of $1.84 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 EPS. Analysts predict that Sanmina will post 4.24 earnings per share for the current year.
Insider Activity
In other Sanmina news, CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction dated 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 transaction, the chief executive officer now 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Krish A. Prabhu sold 4,803 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $67.39, for a total transaction of $323,674.17. Following the completion of the sale, the director now directly owns 19,166 shares of the company's stock, valued at $1,291,596.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,320 shares of company stock worth $7,294,883 over the last quarter. Corporate insiders own 3.09% of the company's stock.
Institutional Trading of Sanmina
A number of institutional investors have recently added to or reduced their stakes in SANM. GAMMA Investing LLC lifted its stake in shares of Sanmina by 108.4% in the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker's stock valued at $33,000 after purchasing an additional 257 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Sanmina by 24.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker's stock worth $56,000 after acquiring an additional 164 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Sanmina during the 2nd quarter valued at about $116,000. Blue Trust Inc. raised its stake in shares of Sanmina by 70.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker's stock valued at $194,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Choreo LLC acquired a new stake in Sanmina in the 2nd quarter worth approximately $211,000. 92.71% of the stock is currently owned by institutional investors and hedge funds.
About Sanmina
(
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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.
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