Sanmina (NASDAQ:SANM) Shares Gap Down to $64.00

Sanmina Co. (NASDAQ:SANM)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $64.00, but opened at $57.52. Sanmina shares last traded at $63.38, with a volume of 195,176 shares traded.

Analyst Ratings Changes

A number of brokerages recently weighed in on SANM. Fox Advisors started coverage on shares of Sanmina in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 target price for the company. Craig Hallum reissued a “hold” rating and issued a $62.00 target price on shares of Sanmina in a research report on Tuesday.

Sanmina Stock Performance

The company has a current ratio of 2.00, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $61.36 and its 200 day moving average price is $55.48. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 0.90 and a beta of 1.01.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.21. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The business’s quarterly revenue was down 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 EPS. Analysts expect that Sanmina Co. will post 5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Susan A. Johnson sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $60.64, for a total transaction of $60,640.00. Following the transaction, the director now directly owns 7,811 shares in the company, valued at approximately $473,659.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.09% of the company’s stock.

Institutional Trading of Sanmina

A number of hedge funds have recently made changes to their positions in SANM. Principal Securities Inc. acquired a new stake in Sanmina during the 4th quarter valued at $64,000. Delta Asset Management LLC TN acquired a new stake in shares of Sanmina during the 4th quarter worth about $85,000. Quest Partners LLC bought a new stake in shares of Sanmina during the 4th quarter worth about $126,000. Blue Trust Inc. boosted its holdings in shares of Sanmina by 21.2% during the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after buying an additional 428 shares during the period. Finally, CI Investments Inc. grew its stake in Sanmina by 3,686.4% in the 3rd quarter. CI Investments Inc. now owns 3,067 shares of the electronics maker’s stock valued at $166,000 after buying an additional 2,986 shares during the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Company Profile

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.