Sanmina (NASDAQ:SANM) Rating Increased to Buy at StockNews.com

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

Sanmina Stock Performance

NASDAQ SANM traded up $0.01 during trading on Friday, hitting $68.87. The company’s stock had a trading volume of 315,763 shares, compared to its average volume of 427,015. Sanmina has a 52 week low of $43.40 and a 52 week high of $76.84. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.76 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.89 and a beta of 0.90. The firm has a 50 day moving average price of $69.13 and a 200 day moving average price of $65.99.

Sanmina (NASDAQ:SANM) last posted its quarterly 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). The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. Sanmina had a return on equity of 10.79% and a net margin of 2.93%. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 earnings per share. Equities research analysts forecast that Sanmina will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Sanmina

In other news, CEO Jure Sola sold 82,328 shares of Sanmina 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 sale, the chief executive officer now owns 1,198,594 shares of the company’s stock, valued at approximately $83,506,043.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jure Sola sold 82,328 shares of Sanmina stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $69.67, for a total transaction of $5,735,791.76. Following the sale, the chief executive officer now directly owns 1,198,594 shares in the company, valued at approximately $83,506,043.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Krish A. Prabhu sold 4,803 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $67.39, for a total transaction of $323,674.17. Following the completion of the transaction, the director now directly owns 19,166 shares of the company’s stock, valued at approximately $1,291,596.74. The disclosure for this sale can be found here. Insiders sold a total of 104,320 shares of company stock valued at $7,294,883 in the last quarter. Corporate insiders own 3.09% of the company’s stock.

Institutional Trading of Sanmina

Several institutional investors have recently bought and sold shares of SANM. Norges Bank acquired a new stake in shares of Sanmina in the 4th quarter valued at $21,836,000. TD Asset Management Inc boosted its position in Sanmina by 139.9% in the fourth quarter. TD Asset Management Inc now owns 41,500 shares of the electronics maker’s stock valued at $2,132,000 after buying an additional 24,200 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Sanmina by 1.3% during the fourth quarter. Allianz Asset Management GmbH now owns 364,533 shares of the electronics maker’s stock worth $18,726,000 after buying an additional 4,767 shares during the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Sanmina by 70,240.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,517 shares of the electronics maker’s stock worth $181,000 after buying an additional 3,512 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Sanmina in the fourth quarter valued at approximately $4,140,000. Institutional investors and hedge funds 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.