Sanmina (NASDAQ:SANM) Downgraded to “Hold” at StockNews.com

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

Sanmina Price Performance

Shares of NASDAQ:SANM opened at $67.28 on Friday. The firm has a 50 day simple moving average of $68.49 and a 200 day simple moving average of $66.20. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.88 and a beta of 0.89. Sanmina has a one year low of $43.40 and a one year high of $76.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.03 and a quick ratio of 1.27.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, July 29th. The electronics maker reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.03). Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business earned $1.37 EPS. The company’s revenue was down 16.6% compared to the same quarter last year. Research analysts predict that Sanmina will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sanmina news, CEO Jure Sola sold 82,328 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the sale, the chief executive officer now owns 1,198,594 shares of the company’s stock, valued at approximately $83,506,043.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jure Sola sold 82,328 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $69.67, for a total value of $5,735,791.76. Following the completion of the sale, the chief executive officer now owns 1,198,594 shares in the company, valued at $83,506,043.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Krish A. Prabhu sold 4,803 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $67.39, for a total transaction of $323,674.17. Following the completion of the sale, the director now owns 19,166 shares of the company’s stock, valued at approximately $1,291,596.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,320 shares of company stock worth $7,294,883 in the last ninety days. Company insiders own 3.09% of the company’s stock.

Hedge Funds Weigh In On Sanmina

Several hedge funds have recently modified their holdings of SANM. GAMMA Investing LLC boosted its holdings in shares of Sanmina by 108.4% in the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after buying an additional 257 shares during the last quarter. 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. Innealta Capital LLC purchased a new stake in shares of Sanmina during the 2nd quarter worth approximately $116,000. Blue Trust Inc. raised its holdings in shares of Sanmina by 70.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock worth $194,000 after purchasing an additional 1,288 shares during the period. Finally, First Trust Direct Indexing L.P. purchased a new position in Sanmina in the first quarter valued at approximately $211,000. Institutional investors own 92.71% of the company’s stock.

Sanmina Company Profile

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.