Sanmina (SANM) Downgraded to Strong Sell at BidaskClub

BidaskClub downgraded shares of Sanmina (NASDAQ:SANM) from a sell rating to a strong sell rating in a research report report published on Thursday.

SANM has been the topic of a number of other research reports. ValuEngine cut shares of Sanmina from a sell rating to a strong sell rating in a research note on Tuesday, October 2nd. Zacks Investment Research cut shares of Sanmina from a hold rating to a sell rating in a research note on Friday, August 3rd. Finally, Citigroup raised their target price on shares of Sanmina from $33.00 to $35.00 and gave the stock a buy rating in a research note on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Sanmina presently has a consensus rating of Hold and an average target price of $35.75.

NASDAQ SANM opened at $25.61 on Thursday. Sanmina has a 12 month low of $24.60 and a 12 month high of $39.40. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 1.37 and a beta of 0.48. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.01.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, July 30th. The electronics maker reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Sanmina had a positive return on equity of 10.28% and a negative net margin of 1.01%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $0.74 EPS. Sanmina’s revenue was up 6.0% on a year-over-year basis. As a group, analysts expect that Sanmina will post 1.68 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Adviser Investments LLC purchased a new stake in Sanmina during the 1st quarter valued at approximately $110,000. Vigilant Capital Management LLC purchased a new stake in Sanmina during the 2nd quarter valued at approximately $147,000. Sun Life Financial INC purchased a new stake in Sanmina during the 2nd quarter valued at approximately $170,000. First Mercantile Trust Co. grew its holdings in Sanmina by 45.1% during the 2nd quarter. First Mercantile Trust Co. now owns 6,080 shares of the electronics maker’s stock valued at $178,000 after buying an additional 1,890 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Sanmina during the 2nd quarter valued at approximately $204,000. Institutional investors own 93.10% of the company’s stock.

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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Analyst Recommendations for Sanmina (NASDAQ:SANM)

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