StockNews.com Upgrades Sanmina (NASDAQ:SANM) to Buy

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

Sanmina Trading Up 0.0 %

SANM stock opened at $68.87 on Friday. The company has a market capitalization of $3.76 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.89 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.27 and a current ratio of 2.03. Sanmina has a 52 week low of $43.40 and a 52 week high of $76.84. The company’s 50-day simple moving average is $69.09 and its 200 day simple moving average is $66.02.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, July 29th. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 EPS. As a group, sell-side analysts anticipate that Sanmina will post 4.24 earnings per share for the current year.

Insider Buying and Selling at Sanmina

In other news, Director Eugene A. Delaney sold 8,688 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $74.83, for a total transaction of $650,123.04. Following the completion of the transaction, the director now owns 92,199 shares of the company’s stock, valued at $6,899,251.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sanmina news, Director Eugene A. Delaney sold 8,688 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $74.83, for a total value of $650,123.04. Following the completion of the sale, the director now owns 92,199 shares in the company, valued at $6,899,251.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total value of $585,225.00. Following the transaction, the executive vice president now owns 26,679 shares of the company’s stock, valued at approximately $1,836,849.15. The disclosure for this sale can be found here. Insiders sold 104,320 shares of company stock valued at $7,294,883 in the last quarter. 3.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Sanmina by 108.4% during the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 257 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after acquiring an additional 164 shares during the last quarter. Innealta Capital LLC bought a new position in Sanmina in the 2nd quarter valued at $116,000. TFO Wealth Partners LLC lifted its holdings in shares of Sanmina by 70,240.0% in the 4th 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 during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Sanmina by 70.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock worth $194,000 after buying an additional 1,288 shares during the period. Institutional investors own 92.71% 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 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.