Sanmina (NASDAQ:SANM) Reaches New 1-Year High at $74.56

Sanmina Co. (NASDAQ:SANM)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $74.56 and last traded at $74.43, with a volume of 130807 shares changing hands. The stock had previously closed at $72.32.

Wall Street Analyst Weigh In

SANM has been the subject of several analyst reports. StockNews.com downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Craig Hallum reissued a “hold” rating and issued a $62.00 price objective on shares of Sanmina in a research note on Tuesday, April 30th.

Sanmina Trading Up 1.5 %

The company has a quick ratio of 1.25, a current ratio of 2.00 and a debt-to-equity ratio of 0.13. The firm has a market cap of $4.15 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.65 and a beta of 0.92. The company’s 50 day simple moving average is $68.06 and its 200-day simple moving average is $62.69.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.21. Sanmina had a net margin of 3.11% and a return on equity of 11.98%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm posted $1.37 earnings per share. The company’s revenue was down 20.9% on a year-over-year basis. As a group, research analysts predict that Sanmina Co. will post 4.63 earnings per share for the current fiscal year.

Insider Activity at Sanmina

In related news, Director Eugene A. Delaney sold 7,181 shares of Sanmina stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total transaction of $466,118.71. Following the transaction, the director now directly owns 100,887 shares of the company’s stock, valued at $6,548,575.17. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Sanmina news, Director Eugene A. Delaney sold 7,181 shares of Sanmina stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total value of $466,118.71. Following the transaction, the director now directly owns 100,887 shares of the company’s stock, valued at $6,548,575.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Mcwilliams Reid sold 3,528 shares of Sanmina stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total transaction of $230,837.04. Following the completion of the transaction, the executive vice president now directly owns 37,651 shares in the company, valued at $2,463,504.93. The disclosure for this sale can be found here. 3.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sanmina

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Sanmina by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker’s stock valued at $444,876,000 after buying an additional 45,918 shares during the last quarter. Global Alpha Capital Management Ltd. grew its holdings in shares of Sanmina by 10.2% during the first quarter. Global Alpha Capital Management Ltd. now owns 747,191 shares of the electronics maker’s stock valued at $46,460,000 after buying an additional 69,300 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Sanmina by 18.6% during the first quarter. Assenagon Asset Management S.A. now owns 643,251 shares of the electronics maker’s stock valued at $39,997,000 after buying an additional 100,865 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Sanmina by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 583,257 shares of the electronics maker’s stock valued at $29,962,000 after buying an additional 13,120 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Sanmina by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker’s stock valued at $38,323,000 after buying an additional 59,849 shares during the last quarter. 92.71% 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 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.