Sanmina (NASDAQ:SANM) Shares Gap Down - Here's What Happened

Sanmina Co. (NASDAQ:SANM - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $72.80, but opened at $68.73. Sanmina shares last traded at $69.42, with a volume of 122,652 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Sanmina from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Craig Hallum boosted their price objective on shares of Sanmina from $62.00 to $69.00 and gave the stock a "hold" rating in a report on Tuesday.

Sanmina Stock Up 2.2 %

The company has a market cap of $4.07 billion, a PE ratio of 19.27, a P/E/G ratio of 1.63 and a beta of 0.89. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.13. The firm's fifty day simple moving average is $67.82 and its 200-day simple moving average is $67.59.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Sanmina Co. will post 4.19 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Alan Mcwilliams Reid sold 8,500 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $1,836,849.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Alan Mcwilliams Reid sold 8,500 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total transaction of $585,225.00. Following the completion of the transaction, the executive vice president now owns 26,679 shares of the company's stock, valued at approximately $1,836,849.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jure Sola sold 82,328 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,198,594 shares of the company's stock, valued at $83,506,043.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,829 shares of company stock valued at $6,321,086 over the last 90 days. Insiders own 3.09% of the company's stock.

Hedge Funds Weigh In On Sanmina

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Sanmina by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker's stock valued at $444,876,000 after purchasing an additional 45,918 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of Sanmina by 8.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker's stock valued at $77,399,000 after purchasing an additional 86,492 shares during the period. American Century Companies Inc. boosted its stake in shares of Sanmina by 14.0% in the second quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker's stock valued at $57,977,000 after purchasing an additional 107,474 shares during the period. Global Alpha Capital Management Ltd. boosted its stake in shares of Sanmina by 10.2% in 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 purchasing an additional 69,300 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Sanmina by 11.5% in the second 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 period. Institutional investors and hedge funds own 92.71% of the company's stock.

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.