Sanmina (NASDAQ:SANM) Cut to “Hold” at StockNews.com

Sanmina (NASDAQ:SANM) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Sanmina Stock Up 2.3 %

NASDAQ SANM traded up $1.62 during trading hours on Wednesday, reaching $71.80. 624,046 shares of the company traded hands, compared to its average volume of 421,633. Sanmina has a 12 month low of $43.40 and a 12 month 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 stock has a market capitalization of $3.92 billion, a PE ratio of 18.60, a PEG ratio of 1.54 and a beta of 0.89. The company has a 50 day moving average of $67.59 and a two-hundred day moving average of $67.13.

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

Insider Activity

In related news, Director Krish A. Prabhu sold 4,803 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total value of $323,674.17. Following the sale, the director now owns 19,166 shares of the company’s stock, valued at $1,291,596.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sanmina news, Director Krish A. Prabhu sold 4,803 shares of Sanmina stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $67.39, for a total transaction of $323,674.17. Following the sale, the director now owns 19,166 shares of the company’s stock, valued at $1,291,596.74. The trade was a 0.00 % decrease in their position. The sale 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 stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total value of $585,225.00. Following the completion of the transaction, the executive vice president now directly owns 26,679 shares of the company’s stock, valued at approximately $1,836,849.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,632 shares of company stock valued at $6,644,760. 3.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Sanmina by 14.0% during the 2nd quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker’s stock valued at $57,977,000 after purchasing an additional 107,474 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Sanmina by 8.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker’s stock worth $77,399,000 after buying an additional 86,492 shares in the last quarter. Global Alpha Capital Management Ltd. grew its position in Sanmina by 10.2% in the first quarter. Global Alpha Capital Management Ltd. now owns 747,191 shares of the electronics maker’s stock worth $46,460,000 after buying an additional 69,300 shares during the last quarter. Bank of New York Mellon Corp grew its position in Sanmina by 11.5% in the second quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker’s stock worth $38,323,000 after buying an additional 59,849 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Sanmina by 64.8% in the first quarter. Janus Henderson Group PLC now owns 134,807 shares of the electronics maker’s stock valued at $8,381,000 after buying an additional 52,995 shares in the last quarter. Institutional investors 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.