Sanmina Corp (NASDAQ:SANM) saw a large decline in short interest in 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. Based on an average trading volume of 797,441 shares, the short-interest ratio is currently 1.4 days. Approximately 1.5% of the company’s stock are sold short.
In other news, SVP Brent Billinger purchased 1,500 shares of the stock in a transaction on Monday, February 5th. The stock was bought at an average price of $26.33 per share, for a total transaction of $39,495.00. Following the acquisition, the senior vice president now directly owns 18,004 shares of the company’s stock, valued at approximately $474,045.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph G. Licata, Jr. sold 18,444 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $27.49, for a total transaction of $507,025.56. Following the transaction, the director now owns 48,787 shares of the company’s stock, valued at approximately $1,341,154.63. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB acquired a new stake in Sanmina during the 4th quarter worth $214,000. MetLife Investment Advisors LLC acquired a new stake in Sanmina during the 4th quarter worth $1,051,000. Vident Investment Advisory LLC boosted its stake in Sanmina by 6.5% during the 4th quarter. Vident Investment Advisory LLC now owns 75,382 shares of the electronics maker’s stock worth $2,488,000 after purchasing an additional 4,598 shares during the period. Jane Street Group LLC acquired a new stake in Sanmina during the 4th quarter worth $1,076,000. Finally, Millennium Management LLC boosted its stake in Sanmina by 9,868.2% during the 4th quarter. Millennium Management LLC now owns 543,568 shares of the electronics maker’s stock worth $17,938,000 after purchasing an additional 538,115 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.
Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, January 29th. The electronics maker reported $0.48 earnings per share (EPS) for the quarter, meeting the 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 during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. sell-side analysts expect that Sanmina will post 1.72 earnings per share for the current year.
Several research firms have commented on SANM. Needham & Company LLC lowered their price target on shares of Sanmina to $33.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Zacks Investment Research cut shares of Sanmina from a “hold” rating to a “strong sell” rating in a report on Friday, February 2nd. ValuEngine cut shares of Sanmina from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. BidaskClub cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Finally, Craig Hallum restated a “buy” rating and issued a $37.00 target price (down previously from $44.00) on shares of Sanmina in a report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $37.25.
TRADEMARK VIOLATION WARNING: “Short Interest in Sanmina Corp (SANM) Drops By 42.6%” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/03/13/short-interest-in-sanmina-corp-sanm-drops-by-42-6.html.
Sanmina Company Profile
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.
Receive News & Ratings for Sanmina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanmina and related companies with MarketBeat.com's FREE daily email newsletter.