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

Sanmina (NASDAQ:SANM) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

Sanmina Stock Performance

Shares of SANM stock opened at $67.28 on Friday. The firm’s 50 day moving average is $68.49 and its 200 day moving average is $66.20. The stock has a market capitalization of $3.75 billion, a P/E ratio of 15.91, a PEG ratio of 1.88 and a beta of 0.89. Sanmina has a 12 month low of $43.40 and a 12 month high of $76.84. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, July 29th. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The company’s revenue was down 16.6% on a year-over-year basis. On average, sell-side analysts anticipate that Sanmina will post 4.24 earnings per share for the current year.

Insider Transactions at Sanmina

In other Sanmina news, EVP Alan Mcwilliams Reid sold 8,500 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Sanmina news, EVP Alan Mcwilliams Reid sold 8,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total value of $585,225.00. Following the transaction, the executive vice president now directly owns 26,679 shares in the company, valued at $1,836,849.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,320 shares of company stock valued at $7,294,883. 3.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sanmina

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of Sanmina by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 257 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Sanmina by 24.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after buying an additional 164 shares in the last quarter. Innealta Capital LLC purchased a new stake in Sanmina in the second quarter worth approximately $116,000. Blue Trust Inc. grew its position in Sanmina by 70.1% during the second quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock valued at $194,000 after acquiring an additional 1,288 shares during the last quarter. Finally, Choreo LLC purchased a new position in shares of Sanmina during the second quarter worth approximately $211,000. 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.