Sanmina (NASDAQ:SANM) Rating Lowered to “Hold” at StockNews.com

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

Sanmina Stock Performance

NASDAQ:SANM opened at $70.10 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $67.63 and a 200-day moving average of $67.15. Sanmina has a twelve month low of $43.40 and a twelve month high of $76.84. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.54 and a beta of 0.89.

Sanmina (NASDAQ:SANM) last issued its 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 the consensus estimate of $1.86 billion. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 earnings per share. Analysts forecast that Sanmina will post 4.24 earnings per share for the current fiscal year.

Insider Transactions at Sanmina

In related news, EVP Alan Mcwilliams Reid sold 8,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was 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 owns 26,679 shares in the company, 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 SEC, which can be accessed through the SEC website. In other Sanmina news, EVP Alan Mcwilliams Reid sold 8,500 shares of Sanmina stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total transaction of $585,225.00. Following the transaction, the executive vice president now directly owns 26,679 shares in the company, valued at approximately $1,836,849.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Krish A. Prabhu sold 4,803 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $67.39, for a total value of $323,674.17. Following the completion of the sale, the director now directly 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. Insiders have sold 95,632 shares of company stock valued at $6,644,760 over the last three months. Company insiders own 3.09% of the company’s stock.

Hedge Funds Weigh In On Sanmina

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its position in Sanmina by 24.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after purchasing an additional 164 shares in the last quarter. TFG Advisers LLC boosted its position in Sanmina by 5.1% during the third quarter. TFG Advisers LLC now owns 4,179 shares of the electronics maker’s stock valued at $286,000 after purchasing an additional 203 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Sanmina by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 11,881 shares of the electronics maker’s stock valued at $787,000 after purchasing an additional 224 shares in the last quarter. Atomi Financial Group Inc. raised its stake in shares of Sanmina by 5.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,788 shares of the electronics maker’s stock worth $328,000 after purchasing an additional 226 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Sanmina by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 257 shares in the last quarter. 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.