Sanmina Corp Short Interest Down 20.2% in May (SANM)
Shares of Sanmina Corp (NASDAQ:SANM) were the recipient of a significant drop in short interest in the month of May. As of May 30th, there was short interest totalling 3,137,504 shares, a drop of 20.2% from the May 15th total of 3,931,272 shares, AnalystRatings.Net reports. Currently, 3.9% of the shares of the company are sold short. Based on an average trading volume of 577,938 shares, the short-interest ratio is presently 5.4 days.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC raised their price target on shares of Sanmina Corp from $22.00 to $24.00 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Sanmina Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 29th. They now have a $21.90 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Sanmina Corp in a research note on Wednesday, April 23rd. They now have a $20.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Sanmina Corp currently has a consensus rating of “Hold” and a consensus price target of $19.34.
Sanmina Corp (NASDAQ:SANM) opened at 22.37 on Friday. Sanmina Corp has a 1-year low of $13.40 and a 1-year high of $22.63. The stock has a 50-day moving average of $20.88 and a 200-day moving average of $17.9. The company has a market cap of $1.841 billion and a price-to-earnings ratio of 18.83.
Sanmina Corp (NASDAQ:SANM) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts predict that Sanmina Corp will post $1.81 earnings per share for the current fiscal year.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services.
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