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

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

Sanmina Stock Performance

Shares of Sanmina stock opened at $68.87 on Friday. The business’s 50 day moving average price is $69.09 and its 200 day moving average price is $66.02. 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 company has a market cap of $3.76 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.89 and a beta of 0.90. Sanmina has a one year low of $43.40 and a one year high of $76.84.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, July 29th. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business earned $1.37 EPS. Sanmina’s revenue was down 16.6% compared to the same quarter last year. On average, research analysts predict that Sanmina will post 4.24 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Alan Mcwilliams Reid sold 8,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total value of $585,225.00. Following the completion of the sale, the executive vice president now directly owns 26,679 shares of the company’s stock, valued at approximately $1,836,849.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sanmina news, CEO Jure Sola sold 82,328 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the transaction, the chief executive officer now owns 1,198,594 shares in the company, valued at approximately $83,506,043.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total value of $585,225.00. Following the completion of the sale, the executive vice president now owns 26,679 shares in the company, valued at approximately $1,836,849.15. The disclosure for this sale can be found here. Insiders sold 104,320 shares of company stock valued at $7,294,883 in the last ninety days. Insiders own 3.09% of the company’s stock.

Institutional Investors Weigh In On Sanmina

A number of institutional investors and hedge funds have recently bought and sold shares of SANM. Vanguard Group Inc. increased its holdings in shares of Sanmina by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker’s stock worth $444,876,000 after buying an additional 45,918 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Sanmina by 8.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker’s stock worth $77,399,000 after acquiring an additional 86,492 shares during the last quarter. American Century Companies Inc. lifted its holdings in Sanmina by 14.0% in the second quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker’s stock worth $57,977,000 after acquiring an additional 107,474 shares during the last quarter. Global Alpha Capital Management Ltd. raised its holdings in shares of Sanmina by 10.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 747,191 shares of the electronics maker’s stock valued at $46,460,000 after buying an additional 69,300 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Sanmina by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker’s stock valued at $38,323,000 after buying an additional 59,849 shares during 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.