Sanmina (NASDAQ:SANM) Shares Gap Down to $64.00

Sanmina Co. (NASDAQ:SANM) gapped down before the market opened on Tuesday . The stock had previously closed at $64.00, but opened at $57.52. Sanmina shares last traded at $63.38, with a volume of 195,176 shares trading hands.

Wall Street Analyst Weigh In

SANM has been the topic of a number of recent research reports. Craig Hallum reaffirmed a “hold” rating and set a $62.00 price objective on shares of Sanmina in a research note on Tuesday. Fox Advisors initiated coverage on Sanmina in a report on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price objective for the company.

Sanmina Trading Down 4.3 %

The stock has a market cap of $3.48 billion, a P/E ratio of 13.27, a PEG ratio of 0.93 and a beta of 1.04. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $61.30 and its 200 day moving average price is $55.38.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. Sanmina had a net margin of 3.25% and a return on equity of 13.16%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business posted $1.37 EPS. The company’s quarterly revenue was down 20.9% on a year-over-year basis. Equities research analysts expect that Sanmina Co. will post 5 earnings per share for the current year.

Insider Activity

In other news, Director Susan A. Johnson sold 1,000 shares of Sanmina stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.64, for a total value of $60,640.00. Following the completion of the transaction, the director now owns 7,811 shares of the company’s stock, valued at approximately $473,659.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.09% of the company’s stock.

Hedge Funds Weigh In On Sanmina

Several large investors have recently modified their holdings of SANM. Principal Securities Inc. purchased a new position in shares of Sanmina in the 4th quarter worth about $64,000. Delta Asset Management LLC TN purchased a new position in Sanmina in the 4th quarter worth about $85,000. Quest Partners LLC purchased a new position in Sanmina in the 4th quarter worth about $126,000. Blue Trust Inc. raised its position in Sanmina by 21.2% in the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after buying an additional 428 shares during the last quarter. Finally, CI Investments Inc. raised its position in Sanmina by 3,686.4% in the 3rd quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock worth $166,000 after buying an additional 2,986 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Company Profile

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.