Sanmina Co. (NASDAQ:SANM) Director Wayne Shortridge sold 10,650 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $29.38, for a total value of $312,897.00. Following the transaction, the director now directly owns 68,685 shares in the company, valued at $2,017,965.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of SANM stock traded up $0.22 on Friday, hitting $29.62. 18,653 shares of the stock traded hands, compared to its average volume of 550,430. The company has a current ratio of 1.55, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.04 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.41 and a beta of 0.59. Sanmina Co. has a 1-year low of $24.60 and a 1-year high of $42.95.
Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, April 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.64 billion. Sanmina had a positive return on equity of 10.99% and a negative net margin of 0.99%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. research analysts forecast that Sanmina Co. will post 1.76 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of SANM. First Mercantile Trust Co. bought a new position in Sanmina during the first quarter valued at about $110,000. Adviser Investments LLC purchased a new stake in shares of Sanmina during the first quarter valued at $110,000. US Bancorp DE lifted its holdings in shares of Sanmina by 67.8% during the fourth quarter. US Bancorp DE now owns 5,747 shares of the electronics maker’s stock valued at $190,000 after purchasing an additional 2,322 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of Sanmina during the fourth quarter valued at $214,000. Finally, JOYN Advisors Inc. purchased a new stake in shares of Sanmina during the fourth quarter valued at $215,000. 94.18% of the stock is currently owned by institutional investors and hedge funds.
SANM has been the topic of a number of recent analyst reports. ValuEngine raised Sanmina from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. BidaskClub raised Sanmina from a “hold” rating to a “buy” rating in a research report on Tuesday, March 6th. Citigroup upped their target price on Sanmina from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 24th. Needham & Company LLC upped their target price on Sanmina from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, April 24th. Finally, Zacks Investment Research raised Sanmina from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $37.80.
Sanmina Company Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. The company offers product design and engineering solutions, 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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