Sanmina (NASDAQ:SANM) Sets New 12-Month High at $34.75

Sanmina Corp (NASDAQ:SANM) shares reached a new 52-week high on Wednesday . The stock traded as high as $34.75 and last traded at $34.39, with a volume of 75283 shares trading hands. The stock had previously closed at $34.39.

Several equities research analysts have recently weighed in on SANM shares. TheStreet cut Sanmina from a “b” rating to a “c+” rating in a research report on Monday, October 28th. BidaskClub cut Sanmina from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research raised Sanmina from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 1st. Finally, ValuEngine lowered Sanmina from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.00.

The company has a current ratio of 1.74, a quick ratio of 1.20 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.42 billion, a P/E ratio of 11.24, a PEG ratio of 1.02 and a beta of 1.32. The company has a fifty day moving average price of $33.38 and a two-hundred day moving average price of $31.53.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, October 28th. The electronics maker reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Sanmina had a return on equity of 14.09% and a net margin of 1.72%. Sanmina’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 EPS. As a group, sell-side analysts expect that Sanmina Corp will post 2.79 EPS for the current year.

In other Sanmina news, EVP Alan Mcwilliams Reid sold 8,503 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $32.26, for a total value of $274,306.78. Following the transaction, the executive vice president now directly owns 37,195 shares of the company’s stock, valued at approximately $1,199,910.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Dennis Young sold 30,933 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $32.35, for a total value of $1,000,682.55. Following the completion of the transaction, the vice president now directly owns 27,157 shares in the company, valued at $878,528.95. The disclosure for this sale can be found here. Insiders have sold a total of 238,972 shares of company stock worth $7,741,768 in the last ninety days. Insiders own 5.55% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. DNB Asset Management AS bought a new position in Sanmina in the fourth quarter valued at about $3,074,000. State of Alaska Department of Revenue lifted its holdings in Sanmina by 2.9% during the fourth quarter. State of Alaska Department of Revenue now owns 55,248 shares of the electronics maker’s stock worth $1,891,000 after acquiring an additional 1,575 shares during the period. Evoke Wealth LLC bought a new stake in Sanmina during the third quarter worth $36,000. Metropolitan Life Insurance Co NY lifted its holdings in Sanmina by 5.8% during the third quarter. Metropolitan Life Insurance Co NY now owns 21,825 shares of the electronics maker’s stock worth $701,000 after acquiring an additional 1,192 shares during the period. Finally, Man Group plc lifted its holdings in Sanmina by 9.9% during the third quarter. Man Group plc now owns 107,313 shares of the electronics maker’s stock worth $3,446,000 after acquiring an additional 9,651 shares during the period. Institutional investors and hedge funds own 93.18% of the company’s stock.

About Sanmina (NASDAQ:SANM)

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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