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

Sanmina (NASDAQ:SANMGet Rating) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

Several other brokerages have also commented on SANM. Sidoti raised Sanmina from a “neutral” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Tuesday, November 8th. Citigroup lifted their price objective on Sanmina to $65.00 in a research report on Tuesday, November 15th. Finally, Craig Hallum lifted their target price on Sanmina to $76.00 in a research report on Tuesday, November 15th.

Sanmina Stock Down 0.3 %

Shares of SANM opened at $66.38 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.18. Sanmina has a 12 month low of $35.36 and a 12 month high of $69.28. The stock’s 50 day moving average is $55.23 and its two-hundred day moving average is $48.33. The firm has a market cap of $3.81 billion, a P/E ratio of 16.23, a PEG ratio of 1.09 and a beta of 1.01.

Insider Buying and Selling

In related news, Director John Goldsberry sold 8,262 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $68.58, for a total transaction of $566,607.96. Following the completion of the transaction, the director now directly owns 14,062 shares of the company’s stock, valued at approximately $964,371.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John Goldsberry sold 8,262 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $68.58, for a total transaction of $566,607.96. Following the completion of the transaction, the director now directly owns 14,062 shares of the company’s stock, valued at approximately $964,371.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Mcwilliams Reid sold 3,270 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $65.00, for a total value of $212,550.00. Following the transaction, the executive vice president now directly owns 30,730 shares of the company’s stock, valued at $1,997,450. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Sanmina by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,977,940 shares of the electronics maker’s stock valued at $282,048,000 after purchasing an additional 40,223 shares during the period. State Street Corp lifted its position in Sanmina by 2.7% during the 1st quarter. State Street Corp now owns 2,558,148 shares of the electronics maker’s stock worth $103,400,000 after acquiring an additional 67,685 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Sanmina by 13.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,153,143 shares of the electronics maker’s stock valued at $87,030,000 after buying an additional 248,130 shares during the period. Bank of America Corp DE lifted its holdings in shares of Sanmina by 13.2% in the 1st quarter. Bank of America Corp DE now owns 1,093,251 shares of the electronics maker’s stock valued at $44,189,000 after buying an additional 127,293 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Sanmina by 216.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 810,247 shares of the electronics maker’s stock valued at $33,002,000 after buying an additional 553,822 shares during the period. 95.68% of the stock is owned by institutional investors and hedge funds.

Sanmina Company Profile

(Get Rating)

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.

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