Sanmina (SANM) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of Sanmina (NASDAQ:SANM) from a buy rating to a hold rating in a report released on Thursday morning.

Other research analysts have also recently issued research reports about the company. ValuEngine upgraded Sanmina from a hold rating to a buy rating in a research report on Wednesday, March 7th. Craig Hallum upgraded Sanmina from a hold rating to a buy rating in a research report on Monday, December 18th. Needham & Company LLC lowered their price objective on Sanmina to $33.00 and set a buy rating on the stock in a research report on Tuesday, January 23rd. TheStreet cut Sanmina from a b rating to a c+ rating in a research report on Monday, January 22nd. Finally, Zacks Investment Research upgraded Sanmina from a sell rating to a hold rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Sanmina presently has a consensus rating of Hold and a consensus price target of $37.25.

How to Become a New Pot Stock Millionaire

SANM stock opened at $26.15 on Thursday. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1,863.08, a price-to-earnings ratio of 9.11, a PEG ratio of 1.27 and a beta of 0.63. Sanmina has a fifty-two week low of $24.60 and a fifty-two week high of $42.95.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, January 29th. The electronics maker reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Sanmina had a positive return on equity of 11.61% and a negative net margin of 0.88%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. equities analysts expect that Sanmina will post 1.72 EPS for the current fiscal year.

In related news, SVP Brent Billinger purchased 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were bought at an average price of $26.33 per share, for a total transaction of $39,495.00. Following the completion of the transaction, the senior vice president now owns 18,004 shares of the company’s stock, valued at $474,045.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph G. Licata, Jr. sold 18,444 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $27.49, for a total value of $507,025.56. Following the completion of the transaction, the director now owns 48,787 shares in the company, valued at approximately $1,341,154.63. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in SANM. Earnest Partners LLC grew its position in Sanmina by 65.4% in the fourth quarter. Earnest Partners LLC now owns 2,877,629 shares of the electronics maker’s stock valued at $94,962,000 after acquiring an additional 1,138,334 shares during the last quarter. Donald Smith & CO. Inc. grew its position in Sanmina by 47.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,671,358 shares of the electronics maker’s stock valued at $88,155,000 after acquiring an additional 861,239 shares during the last quarter. Millennium Management LLC grew its position in Sanmina by 9,868.2% in the fourth quarter. Millennium Management LLC now owns 543,568 shares of the electronics maker’s stock valued at $17,938,000 after acquiring an additional 538,115 shares during the last quarter. Renaissance Technologies LLC grew its position in Sanmina by 743.1% in the fourth quarter. Renaissance Technologies LLC now owns 412,533 shares of the electronics maker’s stock valued at $13,614,000 after acquiring an additional 363,600 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Sanmina by 82.3% in the fourth quarter. Deutsche Bank AG now owns 750,137 shares of the electronics maker’s stock valued at $24,751,000 after acquiring an additional 338,558 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was reported by WKRB News and is the property of of WKRB News. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://www.wkrb13.com/2018/04/02/sanmina-sanm-downgraded-to-hold-at-bidaskclub.html.

About Sanmina

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

Analyst Recommendations for Sanmina (NASDAQ:SANM)

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.

Leave a Reply