Sanmina (NASDAQ:SANM) Cut to Hold at BidaskClub

BidaskClub cut shares of Sanmina (NASDAQ:SANM) from a buy rating to a hold rating in a research note issued to investors on Saturday, BidAskClub reports.

Several other analysts have also issued reports on SANM. Zacks Investment Research raised Sanmina from a strong sell rating to a hold rating in a report on Wednesday, January 1st. ValuEngine lowered Sanmina from a hold rating to a sell rating in a report on Wednesday, October 2nd. Finally, TheStreet lowered Sanmina from a b rating to a c+ rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $33.00.

SANM opened at $34.39 on Friday. The firm has a market cap of $2.39 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. Sanmina has a 52-week low of $24.93 and a 52-week high of $34.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.20 and a current ratio of 1.74. The business’s fifty day moving average is $33.38 and its 200-day moving average is $31.53.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, October 28th. The electronics maker reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.07. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.98 billion. Sanmina had a return on equity of 14.09% and a net margin of 1.72%. Sanmina’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. On average, research analysts predict that Sanmina will post 2.79 earnings per share for the current fiscal year.

In related news, Director John Goldsberry sold 11,850 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $32.22, for a total transaction of $381,807.00. Following the completion of the sale, the director now directly owns 27,045 shares in the company, valued at approximately $871,389.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alan Mcwilliams Reid sold 8,503 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $32.26, for a total value of $274,306.78. Following the sale, the executive vice president now owns 37,195 shares of the company’s stock, valued at $1,199,910.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 238,972 shares of company stock valued at $7,741,768. 5.55% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in SANM. Evoke Wealth LLC bought a new stake in shares of Sanmina during the 3rd quarter worth $36,000. Tower Research Capital LLC TRC lifted its position in shares of Sanmina by 1,639.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,148 shares of the electronics maker’s stock worth $37,000 after buying an additional 1,082 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Sanmina by 640.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,700 shares of the electronics maker’s stock worth $119,000 after buying an additional 3,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sanmina by 18.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,250 shares of the electronics maker’s stock worth $136,000 after buying an additional 665 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of Sanmina during the 3rd quarter worth $160,000. Institutional investors and hedge funds own 93.18% 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 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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