Sanmina Co. (NASDAQ:SANM) Short Interest Update

Sanmina Co. (NASDAQ:SANM) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,480,000 shares, a decrease of 26.4% from the October 15th total of 2,010,000 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 405,400 shares, the short-interest ratio is currently 3.7 days.

Sanmina Stock Down 0.9 %

SANM traded down $0.69 during midday trading on Friday, reaching $76.96. The company’s stock had a trading volume of 238,874 shares, compared to its average volume of 427,437. Sanmina has a 1 year low of $48.58 and a 1 year high of $86.05. The stock’s 50-day moving average is $69.97 and its 200-day moving average is $68.57. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.32 and a beta of 0.89. The company has a current ratio of 2.05, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. 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 business posted $1.20 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, research analysts expect that Sanmina will post 4.84 EPS for the current year.

Analyst Ratings Changes

SANM has been the topic of a number of research analyst reports. Craig Hallum upped their target price on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. StockNews.com raised Sanmina from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th.

Hedge Funds Weigh In On Sanmina

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Sanmina by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock valued at $103,727,000 after purchasing an additional 35,622 shares in the last quarter. Barclays PLC grew its holdings in shares of Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock valued at $6,358,000 after buying an additional 69,431 shares during the last quarter. Weiss Asset Management LP increased its position in shares of Sanmina by 590.7% during the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock valued at $26,090,000 after acquiring an additional 325,974 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Sanmina by 11.0% in the 3rd quarter. Quantinno Capital Management LP now owns 3,649 shares of the electronics maker’s stock worth $250,000 after acquiring an additional 362 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in Sanmina in the 3rd quarter valued at approximately $219,000. Hedge funds and other 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.