Sanmina (NASDAQ:SANM) Shares Gap Down – Here’s Why

Sanmina Co. (NASDAQ:SANM) shares gapped down prior to trading on Tuesday . The stock had previously closed at $72.80, but opened at $68.73. Sanmina shares last traded at $69.42, with a volume of 122,652 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SANM shares. Craig Hallum increased their target price on shares of Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday. StockNews.com downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Sanmina Stock Performance

The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $4.00 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.63 and a beta of 0.89. The firm’s fifty day moving average price is $67.71 and its two-hundred day moving average price is $67.47.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. As a group, equities research analysts forecast that Sanmina Co. will post 4.19 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 transaction of $585,225.00. Following the completion of the transaction, the executive vice president now directly owns 26,679 shares of the company’s stock, valued at approximately $1,836,849.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jure Sola sold 82,328 shares of the company’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 completion of the sale, the chief executive officer now owns 1,198,594 shares in the company, valued at $83,506,043.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the executive vice president now owns 26,679 shares of the company’s stock, valued at $1,836,849.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,829 shares of company stock worth $6,321,086 over the last three months. Company insiders own 3.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D boosted its stake in shares of Sanmina by 2.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 28,598 shares of the electronics maker’s stock valued at $1,958,000 after acquiring an additional 777 shares during the last quarter. Atria Investments Inc boosted its stake in shares of Sanmina by 6.6% during the third quarter. Atria Investments Inc now owns 19,757 shares of the electronics maker’s stock valued at $1,352,000 after acquiring an additional 1,226 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Sanmina by 10.2% during the third quarter. Assetmark Inc. now owns 82,442 shares of the electronics maker’s stock valued at $5,643,000 after acquiring an additional 7,610 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Sanmina by 9.7% during the third quarter. QRG Capital Management Inc. now owns 5,888 shares of the electronics maker’s stock valued at $403,000 after acquiring an additional 523 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Sanmina by 16.3% during the third quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker’s stock valued at $146,000 after acquiring an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 92.71% 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 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.