Sanmina Corp (SANM) Short Interest Down 42.6% in February
Sanmina Corp (NASDAQ:SANM) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,119,614 shares, a decline of 42.6% from the February 15th total of 1,949,785 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 797,441 shares, the short-interest ratio is currently 1.4 days.
In related news, SVP Brent Billinger acquired 1,500 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of $26.33 per share, for a total transaction of $39,495.00. Following the completion of the acquisition, the senior vice president now directly owns 18,004 shares in the company, valued at $474,045.32. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Wayne Shortridge sold 5,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $27.01, for a total transaction of $135,050.00. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB acquired a new position in shares of Sanmina in the fourth quarter valued at about $214,000. MetLife Investment Advisors LLC acquired a new stake in Sanmina during the fourth quarter worth about $1,051,000. Vident Investment Advisory LLC grew its stake in Sanmina by 6.5% during the fourth quarter. Vident Investment Advisory LLC now owns 75,382 shares of the electronics maker’s stock worth $2,488,000 after buying an additional 4,598 shares in the last quarter. Jane Street Group LLC acquired a new stake in Sanmina during the fourth quarter worth about $1,076,000. Finally, Millennium Management LLC grew its stake in Sanmina by 9,868.2% during the fourth quarter. Millennium Management LLC now owns 543,568 shares of the electronics maker’s stock worth $17,938,000 after buying an additional 538,115 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.
Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, January 29th. The electronics maker reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. Sanmina had a negative net margin of 0.88% and a positive return on equity of 11.61%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the company posted $0.75 earnings per share. Sanmina’s revenue was up 1.5% compared to the same quarter last year. research analysts anticipate that Sanmina will post 1.72 EPS for the current fiscal year.
Several equities analysts have commented on SANM shares. Zacks Investment Research upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Craig Hallum upgraded shares of Sanmina from a “hold” rating to a “buy” rating in a research note on Monday, December 18th. Royal Bank of Canada decreased their price target on shares of Sanmina to $31.00 and set a “sector perform” rating on the stock in a research note on Monday, January 22nd. Needham & Company LLC decreased their price target on shares of Sanmina to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Finally, BidaskClub downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $37.25.
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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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