Sanmina (NASDAQ:SANM) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Sanmina (NASDAQ:SANM) from a strong sell rating to a sell rating in a report released on Friday morning, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Sanmina from a hold rating to a strong-buy rating and set a $34.00 price target for the company in a report on Tuesday, August 4th. Citigroup increased their price target on shares of Sanmina from $30.00 to $33.00 and gave the company a neutral rating in a report on Thursday, July 30th. ValuEngine downgraded shares of Sanmina from a hold rating to a sell rating in a report on Thursday, May 21st. Finally, Craig Hallum increased their price target on shares of Sanmina from $31.00 to $40.00 and gave the company a buy rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $34.25.

SANM opened at $27.87 on Friday. The firm has a 50-day simple moving average of $28.17 and a two-hundred day simple moving average of $26.26. Sanmina has a 52 week low of $18.34 and a 52 week high of $34.96. The company has a market capitalization of $1.89 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 0.92 and a beta of 0.84. The company has a quick ratio of 1.18, a current ratio of 1.58 and a debt-to-equity ratio of 0.20.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Wednesday, July 29th. The electronics maker reported $0.86 EPS for the quarter, beating the consensus estimate of $0.24 by $0.62. Sanmina had a net margin of 1.55% and a return on equity of 10.35%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue was down 18.3% on a year-over-year basis. As a group, sell-side analysts expect that Sanmina will post 2.39 earnings per share for the current year.

In other Sanmina news, Chairman Jure Sola sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.08, for a total value of $99,264.00. Following the completion of the sale, the chairman now owns 845,518 shares of the company’s stock, valued at $25,433,181.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.73% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SANM. FinTrust Capital Advisors LLC lifted its stake in Sanmina by 98.8% in the second quarter. FinTrust Capital Advisors LLC now owns 1,318 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 655 shares during the last quarter. Private Advisor Group LLC bought a new stake in Sanmina in the second quarter worth about $50,000. Mutual of America Capital Management LLC lifted its stake in Sanmina by 24.6% in the first quarter. Mutual of America Capital Management LLC now owns 3,083 shares of the electronics maker’s stock worth $84,000 after purchasing an additional 609 shares during the last quarter. First Bank & Trust increased its position in shares of Sanmina by 36.1% during the second quarter. First Bank & Trust now owns 4,506 shares of the electronics maker’s stock worth $113,000 after acquiring an additional 1,194 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Sanmina by 33.7% during the second quarter. PNC Financial Services Group Inc. now owns 6,078 shares of the electronics maker’s stock worth $151,000 after acquiring an additional 1,531 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

Sanmina Company Profile

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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