Sanmina Corp (NASDAQ:SANM) Short Interest Down 11.0% in July

Sanmina Corp (NASDAQ:SANM) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 1,130,000 shares, a drop of 11.0% from the June 30th total of 1,270,000 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 438,200 shares, the short-interest ratio is currently 2.6 days.

Several research analysts recently commented on SANM shares. Craig Hallum lifted their price target on Sanmina from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup raised their price objective on shares of Sanmina from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday. Zacks Investment Research raised shares of Sanmina from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. BidaskClub raised shares of Sanmina from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 15th. Finally, ValuEngine downgraded shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Sanmina currently has a consensus rating of “Hold” and a consensus target price of $35.25.

Shares of NASDAQ SANM opened at $29.68 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.58 and a quick ratio of 1.16. The company has a market cap of $2.02 billion, a P/E ratio of 12.52, a PEG ratio of 1.52 and a beta of 0.90. Sanmina has a 1 year low of $18.34 and a 1 year high of $34.96. The firm has a 50-day simple moving average of $25.27 and a two-hundred day simple moving average of $27.13.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Wednesday, July 29th. The electronics maker reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.62. Sanmina had a net margin of 1.55% and a return on equity of 10.35%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was down 18.3% on a year-over-year basis. As a group, equities research analysts expect that Sanmina will post 2.39 EPS for the current year.

In related news, SVP Brent Billinger sold 922 shares of Sanmina stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $27.35, for a total value of $25,216.70. Following the completion of the transaction, the senior vice president now owns 18,742 shares in the company, valued at $512,593.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.73% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Eaton Vance Management bought a new stake in shares of Sanmina during the first quarter valued at approximately $3,451,000. Meeder Asset Management Inc. raised its position in shares of Sanmina by 20.7% during the 1st quarter. Meeder Asset Management Inc. now owns 12,367 shares of the electronics maker’s stock worth $338,000 after purchasing an additional 2,121 shares during the last quarter. Geode Capital Management LLC grew its stake in Sanmina by 4.4% during the 1st quarter. Geode Capital Management LLC now owns 1,031,015 shares of the electronics maker’s stock valued at $28,125,000 after acquiring an additional 43,599 shares in the last quarter. Wells Fargo & Company MN grew its stake in Sanmina by 2.4% during the 1st quarter. Wells Fargo & Company MN now owns 482,111 shares of the electronics maker’s stock valued at $13,152,000 after acquiring an additional 11,133 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its stake in Sanmina by 16.7% during the 1st quarter. State of Tennessee Treasury Department now owns 49,228 shares of the electronics maker’s stock valued at $1,343,000 after acquiring an additional 7,052 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Sanmina Company Profile

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.

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