Sanmina Corp (NASDAQ:SANM) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 1,068,052 shares, a drop of 36.6% from the November 30th total of 1,685,699 shares. Based on an average trading volume of 1,012,582 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.5% of the shares of the company are short sold.

Shares of Sanmina (NASDAQ SANM) opened at $33.80 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.62 and a quick ratio of 0.97. Sanmina has a 1-year low of $29.95 and a 1-year high of $42.95. The company has a market capitalization of $2,401.89, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.12). Sanmina had a net margin of 2.02% and a return on equity of 12.27%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. equities research analysts anticipate that Sanmina will post 3 EPS for the current year.

Sanmina announced that its Board of Directors has approved a stock repurchase plan on Monday, September 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 77% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

A number of institutional investors and hedge funds have recently modified their holdings of SANM. AXA boosted its stake in shares of Sanmina by 10.9% in the third quarter. AXA now owns 199,900 shares of the electronics maker’s stock worth $7,426,000 after acquiring an additional 19,700 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Sanmina in the third quarter worth approximately $369,000. California Public Employees Retirement System boosted its stake in shares of Sanmina by 1.6% in the third quarter. California Public Employees Retirement System now owns 280,755 shares of the electronics maker’s stock worth $10,430,000 after acquiring an additional 4,545 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Sanmina by 78.0% in the third quarter. Cubist Systematic Strategies LLC now owns 14,900 shares of the electronics maker’s stock worth $554,000 after acquiring an additional 6,531 shares during the last quarter. Finally, Vident Investment Advisory LLC boosted its stake in shares of Sanmina by 3.2% in the third quarter. Vident Investment Advisory LLC now owns 70,784 shares of the electronics maker’s stock worth $2,630,000 after acquiring an additional 2,210 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on SANM. Zacks Investment Research upgraded Sanmina from a “sell” rating to a “hold” rating in a research report on Thursday. Craig Hallum raised Sanmina from a “hold” rating to a “buy” rating in a report on Monday, December 18th. BidaskClub lowered Sanmina from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Argus lowered Sanmina from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Bank of America lowered Sanmina from a “buy” rating to a “neutral” rating in a report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Sanmina currently has a consensus rating of “Hold” and a consensus target price of $44.33.

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Sanmina Company Profile

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.

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