Sanmina Corp. (SANM) Sees Large Volume Increase
Shares of Sanmina Corp. (NASDAQ:SANM) saw unusually-high trading volume on Friday . Approximately 416,370 shares traded hands during mid-day trading, a decline of 11% from the previous session’s volume of 469,255 shares.The stock last traded at $28.82 and had previously closed at $28.77.
SANM has been the topic of several recent research reports. Zacks Investment Research cut Sanmina Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, March 30th. Royal Bank Of Canada raised their price target on Sanmina Corp. from $22.00 to $25.00 and gave the company a “sector perform” rating in a report on Tuesday, April 26th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target (up previously from $27.00) on shares of Sanmina Corp. in a report on Tuesday, May 31st. Finally, B. Riley reiterated a “buy” rating and issued a $29.00 price target on shares of Sanmina Corp. in a report on Tuesday, June 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.63.
The company has a market cap of $2.11 billion and a PE ratio of 5.93. The stock has a 50-day moving average price of $27.60 and a 200 day moving average price of $23.22.
Sanmina Corp. (NASDAQ:SANM) last posted its quarterly earnings results on Monday, April 25th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. During the same period last year, the firm posted $0.50 EPS. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $281.70 million. Sanmina Corp.’s quarterly revenue was down 99.9% on a year-over-year basis. On average, equities analysts expect that Sanmina Corp. will post $2.50 EPS for the current year.
In other news, Director Jackie M. Ward sold 5,001 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $26.00, for a total transaction of $130,026.00. Following the completion of the transaction, the director now owns 213,365 shares of the company’s stock, valued at approximately $5,547,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles Kostalnick II sold 15,834 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $25.24, for a total value of $399,650.16. Following the transaction, the executive vice president now directly owns 63,334 shares of the company’s stock, valued at approximately $1,598,550.16. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of SANM. New York State Common Retirement Fund boosted its position in Sanmina Corp. by 1.6% in the fourth quarter. New York State Common Retirement Fund now owns 421,278 shares of the company’s stock worth $8,670,000 after buying an additional 6,500 shares during the period. Towle & Co. boosted its position in Sanmina Corp. by 0.5% in the fourth quarter. Towle & Co. now owns 941,828 shares of the company’s stock worth $19,383,000 after buying an additional 4,324 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in Sanmina Corp. by 11.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 297,634 shares of the company’s stock worth $6,125,000 after buying an additional 30,084 shares during the period. Dimensional Fund Advisors LP boosted its position in Sanmina Corp. by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,830,810 shares of the company’s stock worth $140,579,000 after buying an additional 67,813 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Sanmina Corp. by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 534,121 shares of the company’s stock worth $10,992,000 after buying an additional 9,971 shares during the period.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries.
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