Sanmina (NASDAQ:SANM) Rating Lowered to Sell at Zacks Investment Research

Sanmina (NASDAQ:SANM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

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.



NASDAQ:SANM traded down $0.17 during mid-day trading on Thursday, reaching $29.41. The stock had a trading volume of 46,119 shares, compared to its average volume of 454,853. The stock has a market cap of $2.07 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 0.83 and a beta of 1.33. Sanmina has a 1-year low of $22.30 and a 1-year high of $34.71. The business has a 50 day simple moving average of $30.61. The company has a quick ratio of 1.14, a current ratio of 1.64 and a debt-to-equity ratio of 0.22.

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.

About Sanmina

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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