Sanmina Corp (NASDAQ:SANM) was the target of a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 1,570,000 shares, an increase of 12.1% from the November 14th total of 1,400,000 shares. Based on an average daily trading volume, of 384,500 shares, the days-to-cover ratio is currently 4.1 days. Approximately 2.3% of the shares of the stock are short sold.
Several analysts have recently weighed in on the company. ValuEngine lowered Sanmina from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered Sanmina from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. BidaskClub upgraded Sanmina from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Finally, TheStreet lowered Sanmina from a “b” rating to a “c+” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $33.00.
In other news, Director John Goldsberry sold 11,850 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $32.22, for a total value of $381,807.00. Following the completion of the sale, the director now owns 27,045 shares in the company, valued at $871,389.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alan Mcwilliams Reid sold 8,503 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $32.26, for a total value of $274,306.78. Following the completion of the sale, the executive vice president now owns 37,195 shares of the company’s stock, valued at approximately $1,199,910.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 238,972 shares of company stock valued at $7,741,768. Insiders own 5.55% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SANM. First Trust Advisors LP purchased a new stake in shares of Sanmina during the first quarter valued at $405,000. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Sanmina by 62.6% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 90,040 shares of the electronics maker’s stock valued at $2,726,000 after purchasing an additional 34,680 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Sanmina during the second quarter valued at $493,000. Aperio Group LLC lifted its holdings in shares of Sanmina by 7.1% during the second quarter. Aperio Group LLC now owns 24,253 shares of the electronics maker’s stock valued at $734,000 after purchasing an additional 1,610 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Sanmina by 2.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 20,470 shares of the electronics maker’s stock valued at $620,000 after purchasing an additional 460 shares during the last quarter. 93.32% of the stock is owned by institutional investors and hedge funds.
Shares of Sanmina stock traded down $0.17 during trading on Friday, hitting $32.85. The stock had a trading volume of 231,864 shares, compared to its average volume of 328,432. Sanmina has a fifty-two week low of $22.30 and a fifty-two week high of $34.71. The firm has a market cap of $2.29 billion, a P/E ratio of 10.71, a PEG ratio of 0.98 and a beta of 1.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.74 and a quick ratio of 1.20. The business has a fifty day moving average of $31.88 and a two-hundred day moving average of $30.62.
Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, October 28th. The electronics maker reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. Sanmina had a return on equity of 14.09% and a net margin of 1.72%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business posted $0.67 earnings per share. Sanmina’s revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Sanmina will post 2.79 earnings per share for the current year.
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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