Sanmina (NASDAQ:SANM) Stock Price Down 5.9% – What’s Next?

Sanmina Co. (NASDAQ:SANM)’s stock price traded down 5.9% during trading on Monday . The stock traded as low as $78.43 and last traded at $79.59. 127,747 shares traded hands during trading, a decline of 67% from the average session volume of 390,357 shares. The stock had previously closed at $84.56.

Wall Street Analysts Forecast Growth

SANM has been the subject of a number of analyst reports. Bank of America upgraded Sanmina from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th. StockNews.com downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th.

Sanmina Price Performance

The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 1.29 and a beta of 1.10. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $77.35 and its 200-day simple moving average is $79.48.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.03. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. Sanmina’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 EPS. On average, research analysts forecast that Sanmina Co. will post 5.15 earnings per share for the current year.

Sanmina declared that its board has initiated a stock repurchase program on Monday, January 27th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the electronics maker to buy up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Mario M. Rosati sold 11,391 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $86.02, for a total transaction of $979,853.82. Following the sale, the director now owns 80,295 shares in the company, valued at approximately $6,906,975.90. This represents a 12.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Sanmina

A number of large investors have recently bought and sold shares of SANM. Barclays PLC increased its stake in shares of Sanmina by 296.3% in the 3rd quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock worth $6,358,000 after acquiring an additional 69,431 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Sanmina by 3.3% in the fourth quarter. Park Avenue Securities LLC now owns 4,008 shares of the electronics maker’s stock valued at $303,000 after buying an additional 129 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Sanmina by 5.0% in the fourth quarter. Atomi Financial Group Inc. now owns 5,028 shares of the electronics maker’s stock valued at $380,000 after purchasing an additional 240 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Sanmina by 6.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock valued at $166,000 after purchasing an additional 125 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Sanmina by 36.8% in the 4th quarter. SG Americas Securities LLC now owns 5,800 shares of the electronics maker’s stock valued at $439,000 after acquiring an additional 1,559 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

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.