Sanmina (SANM) Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Sanmina (NASDAQ:SANM) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Sanmina from a hold rating to a sell rating in a report on Friday, May 18th. Zacks Investment Research upgraded shares of Sanmina from a sell rating to a hold rating in a report on Tuesday, August 14th. Finally, Citigroup lifted their price objective on shares of Sanmina from $33.00 to $35.00 and gave the company a buy rating in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Sanmina presently has a consensus rating of Hold and an average target price of $35.75.

Sanmina stock opened at $29.00 on Friday. The stock has a market capitalization of $2.02 billion, a PE ratio of 10.29, a PEG ratio of 1.47 and a beta of 0.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.73. Sanmina has a 12-month low of $24.60 and a 12-month high of $39.40.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, July 30th. The electronics maker reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Sanmina had a negative net margin of 1.01% and a positive return on equity of 10.28%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. research analysts forecast that Sanmina will post 1.68 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in SANM. First Mercantile Trust Co. bought a new stake in Sanmina during the 1st quarter valued at about $110,000. Adviser Investments LLC bought a new stake in shares of Sanmina in the 1st quarter valued at about $110,000. Vigilant Capital Management LLC bought a new stake in shares of Sanmina in the 2nd quarter valued at about $147,000. Sun Life Financial INC bought a new stake in shares of Sanmina in the 2nd quarter valued at about $170,000. Finally, Trexquant Investment LP bought a new stake in shares of Sanmina in the 2nd quarter valued at about $204,000. Institutional investors own 93.13% of the company’s stock.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. The company offers product design and engineering solutions, 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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