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 published on Friday, BidAskClub reports.

A number of other brokerages have also issued reports on SANM. TheStreet lowered shares of UDR from a b rating to a c rating in a research report on Tuesday, April 30th. Zacks Investment Research lowered shares of H&E Equipment Services from a hold rating to a sell rating in a research report on Wednesday, July 17th. Two 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 stock currently has an average rating of Hold and a consensus price target of $33.67.

Shares of Sanmina stock opened at $30.84 on Friday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 0.85 and a beta of 1.31. The company has a 50 day moving average of $29.56. Sanmina has a 52 week low of $22.30 and a 52 week high of $34.71.

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

In related news, insider Jure Sola sold 300,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $33.47, for a total transaction of $10,041,000.00. Following the completion of the sale, the insider now directly owns 867,401 shares of the company’s stock, valued at $29,031,911.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brent Billinger sold 2,762 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $31.44, for a total value of $86,837.28. Following the sale, the senior vice president now directly owns 22,377 shares of the company’s stock, valued at $703,532.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,607 shares of company stock worth $10,457,251. Insiders own 5.55% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its holdings in shares of Sanmina by 0.4% during the first quarter. Arizona State Retirement System now owns 105,563 shares of the electronics maker’s stock worth $3,045,000 after purchasing an additional 436 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Sanmina by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 26,439 shares of the electronics maker’s stock worth $763,000 after purchasing an additional 478 shares during the period. Advisor Group Inc. lifted its holdings in shares of Sanmina by 27.3% during the fourth quarter. Advisor Group Inc. now owns 3,358 shares of the electronics maker’s stock worth $80,000 after purchasing an additional 721 shares during the period. Mason Street Advisors LLC lifted its holdings in shares of Sanmina by 3.7% during the first quarter. Mason Street Advisors LLC now owns 21,977 shares of the electronics maker’s stock worth $634,000 after purchasing an additional 777 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Sanmina by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 97,500 shares of the electronics maker’s stock worth $2,346,000 after purchasing an additional 900 shares during the period. 92.83% of the stock is owned by hedge funds and other institutional investors.

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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