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

StockNews.com cut shares of Sanmina (NASDAQ:SANM) from a buy rating to a hold rating in a report released on Friday morning.

Separately, Craig Hallum reiterated a hold rating and set a $62.00 price objective on shares of Sanmina in a research note on Tuesday, April 30th.

Sanmina Stock Performance

Shares of NASDAQ SANM opened at $70.54 on Friday. The company has a market capitalization of $3.94 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 2.00. The company’s fifty day moving average price is $67.33 and its 200 day moving average price is $62.06. Sanmina has a 1 year low of $43.40 and a 1 year high of $74.38.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.21. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The company’s revenue was down 20.9% compared to the same quarter last year. On average, research analysts predict that Sanmina will post 4.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Eugene A. Delaney sold 7,181 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $64.91, for a total value of $466,118.71. Following the completion of the transaction, the director now directly owns 100,887 shares in the company, valued at $6,548,575.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Sanmina news, EVP Alan Mcwilliams Reid sold 3,528 shares of Sanmina stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total transaction of $230,837.04. Following the completion of the sale, the executive vice president now directly owns 37,651 shares in the company, valued at $2,463,504.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eugene A. Delaney sold 7,181 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total transaction of $466,118.71. Following the completion of the sale, the director now directly owns 100,887 shares in the company, valued at $6,548,575.17. The disclosure for this sale can be found here. 3.09% of the stock is owned by insiders.

Institutional Trading of Sanmina

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in Sanmina by 70.1% during the second quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock worth $194,000 after purchasing an additional 1,288 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Sanmina by 8.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,571 shares of the electronics maker’s stock valued at $237,000 after buying an additional 287 shares during the period. Diversified Trust Co lifted its stake in Sanmina by 11.2% during the 2nd quarter. Diversified Trust Co now owns 18,774 shares of the electronics maker’s stock worth $1,244,000 after acquiring an additional 1,898 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Sanmina by 71.7% during the 2nd quarter. SG Americas Securities LLC now owns 11,161 shares of the electronics maker’s stock valued at $739,000 after acquiring an additional 4,660 shares during the period. Finally, GAMMA Investing LLC increased its stake in 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 purchasing an additional 257 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.