According to Zacks, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California. “
SANM has been the subject of several other research reports. TheStreet raised shares of Sanmina from a c+ rating to a b- rating in a research note on Tuesday, April 30th. BidaskClub downgraded shares of Sanmina from a hold rating to a sell rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has a consensus rating of Sell and a consensus target price of $33.00.
Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, July 29th. The electronics maker reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.98 billion. Sanmina had a net margin of 1.55% and a return on equity of 13.98%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, analysts expect that Sanmina will post 2.98 EPS for the current year.
In other news, SVP Brent Billinger sold 931 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $30.12, for a total transaction 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 $628,815.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.55% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Atria Investments LLC acquired a new stake in shares of Sanmina during the second quarter worth $727,000. BlackRock Inc. increased its position in shares of Sanmina by 4.4% during the second quarter. BlackRock Inc. now owns 11,043,399 shares of the electronics maker’s stock worth $334,393,000 after buying an additional 467,702 shares during the period. Delphi Management Inc. MA increased its position in shares of Sanmina by 29.2% during the second quarter. Delphi Management Inc. MA now owns 44,992 shares of the electronics maker’s stock worth $1,362,000 after buying an additional 10,170 shares during the period. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Sanmina during the second quarter worth $20,185,000. Finally, United Services Automobile Association increased its position in shares of Sanmina by 8.4% during the second quarter. United Services Automobile Association now owns 117,483 shares of the electronics maker’s stock worth $3,557,000 after buying an additional 9,139 shares during the period. Institutional investors own 92.68% of the company’s stock.
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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