Sanmina (NASDAQ:SANM) Upgraded at BidaskClub

BidaskClub upgraded shares of Sanmina (NASDAQ:SANM) from a sell rating to a hold rating in a report published on Monday, February 4th.

Several other equities analysts also recently commented on SANM. Royal Bank of Canada upped their price target on shares of Sanmina to $33.00 and gave the company a sector perform rating in a research note on Tuesday, January 29th. Citigroup downgraded shares of Sanmina from a buy rating to a neutral rating in a research note on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $36.00.

Shares of SANM opened at $31.86 on Monday. The stock has a market capitalization of $2.24 billion, a PE ratio of 17.32 and a beta of 1.06. Sanmina has a fifty-two week low of $22.30 and a fifty-two week high of $34.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.86 and a current ratio of 1.27.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, January 28th. The electronics maker reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.12. Sanmina had a net margin of 1.35% and a return on equity of 11.86%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the company posted $0.48 earnings per share. Sanmina’s revenue was up 25.4% compared to the same quarter last year.

In related news, SVP Brent Billinger sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $32.79, for a total value of $49,185.00. Following the completion of the transaction, the senior vice president now owns 25,139 shares in the company, valued at approximately $824,307.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Alan Mcwilliams Reid sold 6,052 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $32.42, for a total transaction of $196,205.84. The disclosure for this sale can be found here. Insiders sold 238,126 shares of company stock valued at $7,654,959 in the last three months. Company insiders own 5.55% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its holdings in Sanmina by 27.3% during the 4th quarter. Advisor Group Inc. now owns 3,358 shares of the electronics maker’s stock worth $80,000 after purchasing an additional 721 shares during the last quarter. Quantbot Technologies LP bought a new position in Sanmina during the 3rd quarter worth approximately $100,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Sanmina by 19.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,655 shares of the electronics maker’s stock worth $112,000 after purchasing an additional 754 shares during the last quarter. NumerixS Investment Technologies Inc grew its position in shares of Sanmina by 87.9% during the 4th quarter. NumerixS Investment Technologies Inc now owns 4,697 shares of the electronics maker’s stock worth $112,000 after buying an additional 2,197 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Sanmina by 60.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,290 shares of the electronics maker’s stock worth $146,000 after buying an additional 1,999 shares during the period. Hedge funds and other institutional investors own 92.50% 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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