Sanmina Corp (NASDAQ:SANM) Short Interest Down 15.7% in August

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Sanmina Corp (NASDAQ:SANM) was the target of a large drop in short interest in August. As of August 15th, there was short interest totalling 1,298,700 shares, a drop of 15.7% from the July 15th total of 1,540,800 shares. Based on an average daily volume of 366,700 shares, the short-interest ratio is presently 3.5 days. Approximately 2.0% of the company’s stock are sold short.

Shares of Sanmina stock traded down $0.94 during trading hours on Tuesday, hitting $27.74. The company’s stock had a trading volume of 413,229 shares, compared to its average volume of 424,680. The business has a 50 day moving average price of $30.44 and a two-hundred day moving average price of $30.51. Sanmina has a 12-month low of $22.30 and a 12-month high of $34.71. The company has a market cap of $1.98 billion, a PE ratio of 15.08, a PEG ratio of 0.80 and a beta of 1.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.14 and a current ratio of 1.64.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, July 29th. The electronics maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.98 billion. Sanmina had a return on equity of 13.98% and a net margin of 1.55%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, research analysts anticipate that Sanmina will post 2.98 earnings per share for the current year.

In other Sanmina news, SVP Brent Billinger sold 931 shares of Sanmina stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $30.12, for a total value of $28,041.72. Following the completion of the sale, the senior vice president now owns 20,877 shares of the company’s stock, valued at approximately $628,815.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.55% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC grew its stake in Sanmina by 639.2% in the first quarter. Quadrant Capital Group LLC now owns 2,166 shares of the electronics maker’s stock worth $59,000 after purchasing an additional 1,873 shares in the last quarter. SG Americas Securities LLC bought a new position in Sanmina in the first quarter worth approximately $169,000. Ibex Investors LLC bought a new position in Sanmina in the second quarter worth approximately $229,000. LPL Financial LLC bought a new stake in Sanmina during the 2nd quarter valued at $231,000. Finally, Everence Capital Management Inc. bought a new stake in Sanmina during the 1st quarter valued at $253,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Several analysts recently commented on the company. Zacks Investment Research lowered Sanmina from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet upgraded Sanmina from a “c+” rating to a “b-” rating in a research report on Tuesday, April 30th. Finally, BidaskClub downgraded Sanmina from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has a consensus rating of “Sell” and an average price target of $33.00.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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