Sanmina Corp (NASDAQ:SANM) Sees Significant Decline in Short Interest

Sanmina Corp (NASDAQ:SANM) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,298,700 shares, a drop of 15.7% from the June 30th total of 1,540,800 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 366,700 shares, the short-interest ratio is presently 3.5 days.

SANM has been the subject of several recent research reports. BidaskClub cut shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. TheStreet raised shares of Sanmina from a “c+” rating to a “b-” rating in a research report on Tuesday, April 30th. Finally, Zacks Investment Research cut shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Sanmina presently has a consensus rating of “Sell” and a consensus target price of $33.00.

In other Sanmina news, SVP Brent Billinger sold 931 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $30.12, for a total value of $28,041.72. Following the completion of the transaction, the senior vice president now owns 20,877 shares of the company’s stock, valued at approximately $628,815.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.55% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SANM. FMR LLC lifted its position in Sanmina by 250.3% in the fourth quarter. FMR LLC now owns 104,677 shares of the electronics maker’s stock valued at $2,519,000 after acquiring an additional 74,792 shares during the last quarter. Norges Bank purchased a new stake in Sanmina in the fourth quarter valued at $24,725,000. Geode Capital Management LLC lifted its position in Sanmina by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 770,261 shares of the electronics maker’s stock valued at $18,532,000 after acquiring an additional 41,822 shares during the last quarter. American Century Companies Inc. purchased a new stake in Sanmina in the fourth quarter valued at $1,285,000. Finally, Meeder Asset Management Inc. lifted its position in Sanmina by 1,649.6% in the first quarter. Meeder Asset Management Inc. now owns 6,281 shares of the electronics maker’s stock valued at $182,000 after acquiring an additional 5,922 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Shares of Sanmina stock traded down $0.31 during trading on Thursday, hitting $29.27. 635,400 shares of the stock were exchanged, compared to its average volume of 430,068. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 0.83 and a beta of 1.33. The firm’s 50-day moving average price is $30.60 and its 200 day moving average price is $30.60. Sanmina has a 12-month low of $22.30 and a 12-month high of $34.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.64 and a quick ratio of 1.14.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, July 29th. The electronics maker reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Sanmina had a net margin of 1.55% and a return on equity of 13.98%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. As a group, research analysts forecast that Sanmina will post 2.98 earnings per share for the current year.

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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