Short Interest in Sanmina Co. (NASDAQ:SANM) Drops By 26.4%

Sanmina Co. (NASDAQ:SANM) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,480,000 shares, a decline of 26.4% from the October 15th total of 2,010,000 shares. Based on an average daily volume of 405,400 shares, the days-to-cover ratio is currently 3.7 days. Approximately 2.8% of the company’s shares are sold short.

Analyst Ratings Changes

A number of analysts have recently commented on SANM shares. StockNews.com upgraded Sanmina from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Craig Hallum lifted their target price on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th.

Sanmina Stock Performance

Shares of NASDAQ:SANM traded down $0.94 on Thursday, hitting $77.65. The company had a trading volume of 281,467 shares, compared to its average volume of 428,291. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.36 and a beta of 0.89. Sanmina has a 1-year low of $48.58 and a 1-year high of $86.05. The company has a current ratio of 2.05, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $69.48 and a 200 day moving average price of $68.42.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company posted $1.20 earnings per share. Sanmina’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts expect that Sanmina will post 4.84 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Sanmina by 24.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after acquiring an additional 164 shares during the period. TFG Advisers LLC raised its stake in Sanmina by 5.1% during the 3rd quarter. TFG Advisers LLC now owns 4,179 shares of the electronics maker’s stock worth $286,000 after acquiring an additional 203 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Sanmina by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 11,881 shares of the electronics maker’s stock worth $787,000 after acquiring an additional 224 shares during the period. Atomi Financial Group Inc. boosted its position in Sanmina by 5.0% during the third quarter. Atomi Financial Group Inc. now owns 4,788 shares of the electronics maker’s stock worth $328,000 after purchasing an additional 226 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Sanmina by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 257 shares during the period. Hedge funds and other 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.