Sanmina (NASDAQ:SANM) Stock Rating Lowered by StockNews.com

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

Sanmina Stock Down 2.4 %

SANM stock opened at $70.10 on Wednesday. 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 firm has a 50 day simple moving average of $67.63 and a 200-day simple moving average of $67.15. The company has a market capitalization of $3.83 billion, a P/E ratio of 18.16, a PEG ratio of 1.54 and a beta of 0.89. Sanmina has a twelve month low of $43.40 and a twelve month high of $76.84.

Sanmina (NASDAQ:SANM) last issued its 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). The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. On average, equities research analysts predict that Sanmina will post 4.24 earnings per share for the current fiscal year.

Insider Activity at Sanmina

In other Sanmina news, Director Krish A. Prabhu sold 4,803 shares of the stock in a transaction 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 sale, the director now directly owns 19,166 shares of the company’s stock, valued at approximately $1,291,596.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sanmina news, 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 sale, the executive vice president now directly owns 26,679 shares of the company’s stock, valued at $1,836,849.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Krish A. Prabhu sold 4,803 shares of the business’s stock in a transaction 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 approximately $1,291,596.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,632 shares of company stock valued at $6,644,760. Corporate insiders own 3.09% of the company’s stock.

Institutional Trading of Sanmina

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