Sanmina Corp (SANM) Short Interest Down 41.6% in December

Sanmina Corp (NASDAQ:SANM) was the recipient of a significant drop in short interest during the month of December. As of December 29th, there was short interest totalling 623,326 shares, a drop of 41.6% from the December 15th total of 1,068,052 shares. Based on an average daily volume of 763,068 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.9% of the shares of the company are short sold.

In other news, SVP Brent Billinger acquired 1,500 shares of Sanmina stock in a transaction dated Monday, February 5th. The stock was purchased at an average cost of $26.33 per share, for a total transaction of $39,495.00. Following the completion of the purchase, the senior vice president now directly owns 18,004 shares in the company, valued at approximately $474,045.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.12% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hanseatic Management Services Inc. boosted its stake in Sanmina by 1.2% during the second quarter. Hanseatic Management Services Inc. now owns 9,654 shares of the electronics maker’s stock worth $368,000 after buying an additional 116 shares during the last quarter. Amalgamated Bank boosted its stake in Sanmina by 1.6% during the second quarter. Amalgamated Bank now owns 10,104 shares of the electronics maker’s stock worth $385,000 after buying an additional 158 shares during the last quarter. Stifel Financial Corp boosted its stake in Sanmina by 3.3% during the second quarter. Stifel Financial Corp now owns 7,658 shares of the electronics maker’s stock worth $291,000 after buying an additional 246 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Sanmina by 12.6% during the second quarter. Cubist Systematic Strategies LLC now owns 8,369 shares of the electronics maker’s stock worth $319,000 after buying an additional 938 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in Sanmina by 70.7% during the second quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock worth $150,000 after buying an additional 1,627 shares during the last quarter. 91.21% of the stock is currently owned by institutional investors.

Shares of Sanmina (NASDAQ SANM) traded up $0.05 during trading hours on Friday, hitting $25.95. The stock had a trading volume of 1,143,998 shares, compared to its average volume of 1,338,565. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.60 and a quick ratio of 0.95. The firm has a market capitalization of $1,848.83, a price-to-earnings ratio of 10.51, a PEG ratio of 1.26 and a beta of 0.70. Sanmina has a 12-month low of $24.60 and a 12-month high of $42.95.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, January 29th. The electronics maker reported $0.48 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.48. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Sanmina had a positive return on equity of 11.61% and a negative net margin of 0.88%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. analysts forecast that Sanmina will post 1.72 earnings per share for the current year.

Several research analysts recently weighed in on the company. Zacks Investment Research cut Sanmina from a “hold” rating to a “strong sell” rating in a research report on Friday, February 2nd. ValuEngine cut Sanmina from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. TheStreet lowered Sanmina from a “b” rating to a “c+” rating in a report on Monday, January 22nd. Argus lowered Sanmina from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Craig Hallum reissued a “buy” rating and issued a $37.00 price objective (down from $44.00) on shares of Sanmina in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $37.25.

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About Sanmina

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.

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