Sanmina (NASDAQ:SANM) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Sanmina (NASDAQ:SANM) from a hold rating to a sell rating in a research report sent to investors on Wednesday, ValuEngine reports.

Several other research firms have also issued reports on SANM. BidaskClub upgraded shares of Sanmina from a sell rating to a hold rating in a research report on Thursday, September 12th. Zacks Investment Research lowered shares of Sanmina from a hold rating to a sell rating in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $33.00.

SANM traded up $0.45 during trading on Wednesday, reaching $31.16. The stock had a trading volume of 145,629 shares, compared to its average volume of 312,172. The stock has a market cap of $2.14 billion, a PE ratio of 16.93, a PEG ratio of 0.69 and a beta of 1.35. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.14 and a current ratio of 1.64. Sanmina has a one year low of $22.30 and a one year high of $34.71. The business has a 50-day moving average of $30.63 and a 200-day moving average of $30.38.

Sanmina (NASDAQ:SANM) last released 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. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Sanmina had a return on equity of 13.98% and a net margin of 1.55%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Equities research analysts forecast that Sanmina will post 2.98 EPS for the current fiscal year.

In other Sanmina news, SVP Brent Billinger sold 931 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $30.12, for a total transaction of $28,041.72. Following the completion of the sale, the senior vice president now directly owns 20,877 shares in the company, valued at $628,815.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.55% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its position in Sanmina by 128.5% during the third quarter. State of Alaska Department of Revenue now owns 53,673 shares of the electronics maker’s stock valued at $1,723,000 after buying an additional 30,183 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Sanmina by 6.1% during the second quarter. Macquarie Group Ltd. now owns 62,900 shares of the electronics maker’s stock worth $1,905,000 after purchasing an additional 3,600 shares during the period. Atria Investments LLC purchased a new stake in shares of Sanmina during the second quarter worth about $727,000. BlackRock Inc. boosted its holdings in shares of Sanmina by 4.4% during the second quarter. BlackRock Inc. now owns 11,043,399 shares of the electronics maker’s stock worth $334,393,000 after purchasing an additional 467,702 shares during the period. Finally, Delphi Management Inc. MA boosted its holdings in shares of Sanmina by 29.2% during the second quarter. Delphi Management Inc. MA now owns 44,992 shares of the electronics maker’s stock worth $1,362,000 after purchasing an additional 10,170 shares during the period. Institutional investors and hedge funds own 92.92% 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 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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