StockNews.com Downgrades Sanmina (NASDAQ:SANM) to Hold

Sanmina (NASDAQ:SANM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Sanmina Trading Up 2.3 %

NASDAQ SANM traded up $1.62 on Wednesday, hitting $71.80. 624,046 shares of the stock were exchanged, compared to its average volume of 421,633. The company’s 50-day moving average price is $67.59 and its two-hundred day moving average price is $67.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27. Sanmina has a 52-week low of $43.40 and a 52-week high of $76.84. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.54 and a beta of 0.89.

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

Insider Buying and Selling

In other news, Director Krish A. Prabhu sold 4,803 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total transaction of $323,674.17. Following the transaction, the director now directly owns 19,166 shares in the company, valued at $1,291,596.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Alan Mcwilliams Reid sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total transaction of $585,225.00. Following the completion of the sale, the executive vice president now directly owns 26,679 shares of the company’s stock, valued at $1,836,849.15. 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, Director Krish A. Prabhu sold 4,803 shares of Sanmina stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total value of $323,674.17. Following the sale, the director now owns 19,166 shares of the company’s stock, valued at approximately $1,291,596.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,632 shares of company stock worth $6,644,760. 3.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sanmina

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Sanmina by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker’s stock valued at $444,876,000 after buying an additional 45,918 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Sanmina by 8.0% during the 2nd 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 in the last quarter. American Century Companies Inc. lifted 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 worth $57,977,000 after buying an additional 107,474 shares during the last quarter. Global Alpha Capital Management Ltd. grew its stake in Sanmina by 10.2% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 747,191 shares of the electronics maker’s stock valued at $46,460,000 after buying an additional 69,300 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in 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 worth $38,323,000 after acquiring an additional 59,849 shares during the period. Institutional investors 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.