Sanmina (NASDAQ:SANM) Upgraded to “Buy” by StockNews.com

Sanmina (NASDAQ:SANM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Sanmina Trading Up 1.4 %

Sanmina stock opened at $67.35 on Friday. Sanmina has a one year low of $43.40 and a one year high of $76.84. The stock has a market cap of $3.76 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.53 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.27 and a current ratio of 2.03. The stock has a 50-day moving average of $67.96 and a two-hundred day moving average of $66.43.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, July 29th. The electronics maker reported $1.25 EPS 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 company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business earned $1.37 earnings per share. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. On average, research analysts anticipate that Sanmina will post 4.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Sanmina news, Director Krish A. Prabhu sold 4,803 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $67.39, for a total transaction of $323,674.17. Following the sale, the director now owns 19,166 shares in the company, valued at approximately $1,291,596.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jure Sola sold 82,328 shares of the firm’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 completion of the transaction, the chief executive officer now owns 1,198,594 shares of the company’s stock, valued at $83,506,043.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Krish A. Prabhu sold 4,803 shares of the company’s stock in a transaction on 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 directly owns 19,166 shares in the company, valued at approximately $1,291,596.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,320 shares of company stock worth $7,294,883 in the last 90 days. Insiders own 3.09% of the company’s stock.

Hedge Funds Weigh In On Sanmina

A number of institutional investors have recently modified their holdings of SANM. GAMMA Investing LLC boosted its stake in shares of Sanmina by 108.4% in the second 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. lifted its holdings in Sanmina by 24.1% in the second 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 Sanmina in the 2nd quarter worth approximately $116,000. CWM LLC grew its stake in shares of Sanmina by 40.5% during the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock worth $122,000 after purchasing an additional 513 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Sanmina by 70.1% during the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock valued at $194,000 after purchasing an additional 1,288 shares in the last quarter. Hedge funds and other 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.