Sanmina Co. (NASDAQ:SANM) Short Interest Update

Sanmina Co. (NASDAQ:SANM) was the target of a significant decrease in short interest in the month of 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. Based on an average trading volume of 405,400 shares, the days-to-cover ratio is presently 3.7 days. Approximately 2.8% of the shares of the company are sold short.

Sanmina Stock Performance

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

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. Sanmina’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts predict that Sanmina will post 4.84 EPS for the current year.

Institutional Investors Weigh In On Sanmina

A number of institutional investors have recently added to or reduced their stakes in the business. Weiss Asset Management LP lifted its holdings in shares of Sanmina by 590.7% in the 3rd quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock valued at $26,090,000 after buying an additional 325,974 shares during the period. Global Alpha Capital Management Ltd. raised its position in Sanmina by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock worth $63,138,000 after acquiring an additional 149,600 shares in the last quarter. Royce & Associates LP lifted its holdings in Sanmina by 36.7% in the third quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock valued at $27,524,000 after acquiring an additional 107,906 shares during the period. American Century Companies Inc. boosted its position in shares of Sanmina by 14.0% during the 2nd quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker’s stock worth $57,977,000 after purchasing an additional 107,474 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew 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 purchasing an additional 86,492 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SANM. StockNews.com raised shares of Sanmina from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Craig Hallum lifted their price objective on shares of Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th.

About Sanmina

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.