Sanmina (NASDAQ:SANM) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Sanmina (NASDAQ:SANM) from a buy rating to a hold rating in a report published on Thursday morning.

SANM has been the topic of a number of other reports. Craig Hallum restated a hold rating and set a $62.00 price target on shares of Sanmina in a research report on Tuesday, April 30th. Fox Advisors initiated coverage on Sanmina in a research report on Wednesday, March 6th. They set an overweight rating and a $80.00 price target on the stock.

Sanmina Trading Up 1.2 %

SANM stock opened at $66.25 on Thursday. Sanmina has a 1-year low of $43.40 and a 1-year high of $69.80. The firm has a market cap of $3.70 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.42 and a beta of 0.95. The business’s 50 day moving average is $65.50 and its 200-day moving average is $60.29. The company has a current ratio of 2.00, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.21. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The company’s revenue was down 20.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. Equities analysts anticipate that Sanmina will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Sanmina

In other Sanmina news, Director Eugene A. Delaney sold 7,181 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $64.91, for a total value of $466,118.71. Following the transaction, the director now directly owns 100,887 shares in the company, valued at approximately $6,548,575.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total value of $230,837.04. Following the transaction, the executive vice president now owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eugene A. Delaney sold 7,181 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the completion of the transaction, the director now directly owns 100,887 shares in the company, valued at approximately $6,548,575.17. The disclosure for this sale can be found here. Corporate insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Principal Securities Inc. acquired a new stake in Sanmina during the 4th quarter worth $64,000. Delta Asset Management LLC TN acquired a new stake in Sanmina during the fourth quarter worth approximately $85,000. Quest Partners LLC acquired a new stake in Sanmina during the fourth quarter worth approximately $126,000. Blue Trust Inc. lifted its position in Sanmina by 21.2% during the fourth quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after acquiring an additional 428 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its position in shares of Sanmina by 70,240.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,517 shares of the electronics maker’s stock valued at $181,000 after buying an additional 3,512 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.