Sanmina (NASDAQ:SANM) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Sanmina (NASDAQ:SANM) from a hold rating to a buy rating in a research report sent to investors on Friday.

Sanmina Stock Performance

SANM opened at $68.45 on Friday. Sanmina has a 1-year low of $43.40 and a 1-year high of $76.84. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.89 and a beta of 0.90. The company’s fifty day moving average price is $69.09 and its two-hundred day moving average price is $66.04.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. Sanmina’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 EPS. On average, analysts expect that Sanmina will post 4.24 EPS for the current fiscal year.

Insider Transactions at Sanmina

In related news, EVP Alan Mcwilliams Reid sold 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total value of $585,225.00. Following the sale, the executive vice president now directly owns 26,679 shares of the company’s stock, valued at $1,836,849.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sanmina news, Director Krish A. Prabhu sold 4,803 shares of Sanmina stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total transaction of $323,674.17. Following the transaction, the director now directly owns 19,166 shares of the company’s stock, valued at $1,291,596.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total transaction of $585,225.00. Following the completion of the transaction, the executive vice president now owns 26,679 shares in the company, valued at approximately $1,836,849.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,320 shares of company stock valued at $7,294,883. 3.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Sanmina in the fourth quarter valued at $21,836,000. Invenomic Capital Management LP purchased a new position in Sanmina in the 4th quarter worth about $12,174,000. Vanguard Group Inc. raised its position in Sanmina by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 7,108,722 shares of the electronics maker’s stock worth $365,175,000 after buying an additional 130,797 shares during the last quarter. American Century Companies Inc. raised its position in Sanmina by 14.0% in the 2nd quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker’s stock worth $57,977,000 after buying an additional 107,474 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Sanmina by 8.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker’s stock valued at $77,399,000 after purchasing an additional 86,492 shares during the period. Institutional investors own 92.71% 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 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.