Sanmina (NASDAQ:SANM) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Sanmina (NASDAQ:SANM) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

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.

Shares of NASDAQ:SANM opened at $28.90 on Tuesday. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 0.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.64 and a quick ratio of 1.14. The firm has a 50 day simple moving average of $30.30 and a 200 day simple moving average of $30.43. Sanmina has a one year low of $22.30 and a one year high of $34.71.

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.

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.

Featured Story: Risk Tolerance

Get a free copy of the Zacks research report on Sanmina (SANM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sanmina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanmina and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit