Sanmina (NASDAQ:SANM) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Sanmina (NASDAQ:SANM) from a strong sell rating to a sell rating in a report issued on Friday, BidAskClub reports.

Other equities analysts have also issued reports about the company. TheStreet lowered UDR from a b rating to a c rating in a research note on Tuesday, April 30th. Zacks Investment Research lowered H&E Equipment Services from a hold rating to a sell rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $33.67.

Shares of NASDAQ SANM opened at $30.68 on Friday. The firm’s fifty day moving average price is $29.31. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 0.85 and a beta of 1.31. Sanmina has a 1 year low of $22.30 and a 1 year high of $34.71.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, April 29th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.17. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a return on equity of 13.48% and a net margin of 1.48%. The firm’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. Equities research analysts forecast that Sanmina will post 3.02 EPS for the current fiscal year.

In other news, EVP Alan Mcwilliams Reid sold 9,845 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $33.46, for a total transaction of $329,413.70. Following the completion of the sale, the executive vice president now owns 57,077 shares in the company, valued at approximately $1,909,796.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brent Billinger sold 2,762 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $31.44, for a total value of $86,837.28. Following the sale, the senior vice president now owns 22,377 shares of the company’s stock, valued at approximately $703,532.88. The disclosure for this sale can be found here. Insiders have sold a total of 312,607 shares of company stock valued at $10,457,251 in the last quarter. Insiders own 5.55% of the company’s stock.

Several large investors have recently made changes to their positions in SANM. Norges Bank acquired a new stake in shares of Sanmina during the 4th quarter valued at $24,725,000. BlackRock Inc. lifted its position in shares of Sanmina by 5.3% during the 1st quarter. BlackRock Inc. now owns 10,575,697 shares of the electronics maker’s stock valued at $305,110,000 after acquiring an additional 533,066 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of Sanmina during the 4th quarter valued at $5,642,000. Assenagon Asset Management S.A. purchased a new stake in shares of Sanmina in the first quarter valued at $3,243,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Sanmina in the second quarter valued at $2,378,000. Institutional investors own 92.84% of the company’s stock.

About Sanmina

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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