Sanmina (NASDAQ:SANM) Upgraded to Buy by StockNews.com

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

Sanmina Price Performance

SANM traded up $0.01 during midday trading on Friday, hitting $68.87. The company had a trading volume of 315,763 shares, compared to its average volume of 427,015. Sanmina has a twelve month low of $43.40 and a twelve month high of $76.84. The company has a market capitalization of $3.76 billion, a PE ratio of 16.28, a P/E/G ratio of 1.89 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.27 and a current ratio of 2.03. The firm’s 50-day simple moving average is $69.13 and its 200-day simple moving average is $65.99.

Sanmina (NASDAQ:SANM) last issued its quarterly 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). Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business earned $1.37 EPS. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. Equities research analysts predict that Sanmina will post 4.24 EPS for the current fiscal year.

Insider Transactions at Sanmina

In other Sanmina news, CEO Jure Sola sold 82,328 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $69.67, for a total value of $5,735,791.76. Following the transaction, the chief executive officer now owns 1,198,594 shares of the company’s stock, valued at $83,506,043.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction on Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the transaction, the chief executive officer now directly owns 1,198,594 shares of the company’s stock, valued at $83,506,043.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 26,679 shares of the company’s stock, valued at approximately $1,836,849.15. The disclosure for this sale can be found here. Insiders have sold 104,320 shares of company stock worth $7,294,883 in the last three months. Insiders own 3.09% of the company’s stock.

Institutional Investors Weigh In On Sanmina

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in 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 buying an additional 257 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sanmina by 24.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after acquiring an additional 164 shares during the period. Innealta Capital LLC bought a new stake in Sanmina in the 2nd quarter valued at $116,000. TFO Wealth Partners LLC boosted its stake in Sanmina by 70,240.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,517 shares of the electronics maker’s stock worth $181,000 after purchasing an additional 3,512 shares during the period. Finally, Blue Trust Inc. increased its holdings in Sanmina by 70.1% during the 2nd 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. Institutional investors and hedge funds own 92.71% of the company’s stock.

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.