Sanmina (NASDAQ:SANM) Downgraded by StockNews.com

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

Separately, Craig Hallum reiterated a hold rating and issued a $62.00 price objective on shares of Sanmina in a report on Tuesday, April 30th.

Sanmina Stock Up 0.8 %

Sanmina stock opened at $70.81 on Wednesday. Sanmina has a fifty-two week low of $43.40 and a fifty-two week high of $71.45. The firm has a market capitalization of $3.95 billion, a PE ratio of 16.74, a P/E/G ratio of 1.51 and a beta of 0.92. The company’s 50-day moving average is $66.57 and its 200-day moving average is $61.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.25.

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

Insider Buying and Selling

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

Institutional Trading of Sanmina

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Sanmina by 108.4% in the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 257 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Sanmina during the 4th quarter worth approximately $64,000. Delta Asset Management LLC TN acquired a new stake in shares of Sanmina during the 4th quarter worth approximately $85,000. Quest Partners LLC acquired a new stake in shares of Sanmina during the 4th quarter worth approximately $126,000. Finally, Blue Trust Inc. increased its stake in Sanmina by 21.2% in the fourth quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock valued at $133,000 after acquiring an additional 428 shares during the last quarter. 92.71% 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 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.