According to Zacks, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California. “
A number of other equities analysts also recently commented on the company. TheStreet upgraded Sanmina from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. BidaskClub downgraded Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has an average rating of “Sell” and a consensus target price of $33.00.
Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, July 29th. The electronics maker reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. Sanmina had a return on equity of 13.98% and a net margin of 1.55%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. Sanmina’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, analysts predict that Sanmina will post 2.98 EPS for the current fiscal year.
In other news, SVP Brent Billinger sold 931 shares of Sanmina stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $30.12, for a total transaction of $28,041.72. Following the sale, the senior vice president now owns 20,877 shares of the company’s stock, valued at $628,815.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.55% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SANM. Nuveen Asset Management LLC bought a new position in shares of Sanmina in the second quarter valued at $38,749,000. Victory Capital Management Inc. increased its holdings in shares of Sanmina by 15.3% in the second quarter. Victory Capital Management Inc. now owns 833,180 shares of the electronics maker’s stock valued at $25,229,000 after buying an additional 110,668 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Sanmina by 17.8% in the second quarter. Cubist Systematic Strategies LLC now owns 74,005 shares of the electronics maker’s stock valued at $2,241,000 after buying an additional 11,200 shares in the last quarter. Jefferies Group LLC bought a new position in shares of Sanmina in the second quarter valued at $335,000. Finally, Morgan Stanley increased its holdings in shares of Sanmina by 357.7% in the second quarter. Morgan Stanley now owns 354,302 shares of the electronics maker’s stock valued at $10,728,000 after buying an additional 276,897 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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