Sanmina (NASDAQ:SANM) Shares Gap Down to $64.00

Sanmina Co. (NASDAQ:SANM) shares gapped down prior to trading on Tuesday . The stock had previously closed at $64.00, but opened at $57.52. Sanmina shares last traded at $63.38, with a volume of 195,176 shares changing hands.

Wall Street Analysts Forecast Growth

SANM has been the topic of a number of research analyst reports. Fox Advisors initiated coverage on Sanmina in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price target on the stock. Craig Hallum reaffirmed a “hold” rating and issued a $62.00 price target on shares of Sanmina in a research note on Tuesday.

Sanmina Price Performance

The stock has a 50 day simple moving average of $61.30 and a two-hundred day simple moving average of $55.38. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.99 and a quick ratio of 1.23.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.21. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a return on equity of 13.16% and a net margin of 3.25%. The firm’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. On average, equities research analysts predict that Sanmina Co. will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling at Sanmina

In other Sanmina news, Director Susan A. Johnson sold 1,000 shares of Sanmina stock in a transaction on Friday, February 16th. The stock was sold at an average price of $60.64, for a total value of $60,640.00. Following the sale, the director now owns 7,811 shares in the company, valued at $473,659.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.09% of the company’s stock.

Institutional Investors Weigh In On Sanmina

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. purchased a new stake in Sanmina in the fourth quarter valued at $64,000. Delta Asset Management LLC TN purchased a new stake in shares of Sanmina in the 4th quarter valued at $85,000. Quest Partners LLC purchased a new stake in shares of Sanmina in the 4th quarter valued at $126,000. Blue Trust Inc. raised its holdings in shares of Sanmina by 21.2% in the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock valued at $133,000 after buying an additional 428 shares during the period. Finally, CI Investments Inc. raised its holdings in shares of Sanmina by 3,686.4% in the 3rd quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock valued at $166,000 after buying an additional 2,986 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.