Sanmina Corp (NASDAQ:SANM) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,298,700 shares, a decline of 15.7% from the June 30th total of 1,540,800 shares. Based on an average trading volume of 366,700 shares, the days-to-cover ratio is presently 3.5 days. Currently, 2.0% of the shares of the company are short sold.
Several research analysts have weighed in on the stock. TheStreet upgraded shares of Sanmina from a “c+” rating to a “b-” rating in a research report on Tuesday, April 30th. Zacks Investment Research lowered shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, BidaskClub lowered shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company currently has a consensus rating of “Sell” and an average target price of $33.00.
In other Sanmina news, SVP Brent Billinger sold 931 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $30.12, for a total transaction of $28,041.72. Following the transaction, the senior vice president now directly owns 20,877 shares in the company, valued at $628,815.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.55% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SANM. State of Alaska Department of Revenue lifted its holdings in shares of Sanmina by 1.8% in the second quarter. State of Alaska Department of Revenue now owns 23,490 shares of the electronics maker’s stock valued at $711,000 after purchasing an additional 426 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Sanmina by 0.4% in the first quarter. Arizona State Retirement System now owns 105,563 shares of the electronics maker’s stock valued at $3,045,000 after purchasing an additional 436 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Sanmina by 2.3% in 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 in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Sanmina by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 26,439 shares of the electronics maker’s stock valued at $763,000 after purchasing an additional 478 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its holdings in shares of Sanmina by 3.7% in the first quarter. Mason Street Advisors LLC now owns 21,977 shares of the electronics maker’s stock valued at $634,000 after purchasing an additional 777 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.
SANM traded down $0.31 on Thursday, hitting $29.27. 635,400 shares of the company were exchanged, compared to its average volume of 430,068. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.14 and a current ratio of 1.64. The business’s fifty day moving average is $30.60 and its 200 day moving average is $30.60. Sanmina has a fifty-two week low of $22.30 and a fifty-two week high of $34.71. The firm has a market capitalization of $2.07 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.83 and a beta of 1.33.
Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, July 29th. The electronics maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Sanmina had a net margin of 1.55% and a return on equity of 13.98%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts forecast that Sanmina will post 2.98 EPS for the current fiscal 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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