November 23, 2016 - By Hazel Jackson
After the disclosing of a document filled with U.S. Security & Exchange Commission; a transaction became apparent. The director of Sanmina Corp, Wayne Shortridge; performed a sale in the open market by selling 6,000 shares at an avg stock price per share of $31.7 of the company valued at $190,413 U.S. Dollars. Wayne Shortridge now owns 62,428 shares which are equivalent to exactly 0.08% of the California-based company’s market cap (total dollar market value of all company’s outstanding shares).
Out of 10 analysts covering Sanmina-SCI Corporation (NASDAQ:SANM), 3 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 30% are positive. $33 is the highest target while $18 is the lowest. The $27.40 average target is -16.84% below today’s ($32.95) stock price. Sanmina-SCI Corporation has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, December 4, the company rating was initiated by B. Riley & Co. RBC Capital Markets maintained Sanmina Corp (NASDAQ:SANM) on Tuesday, January 26 with “Sector Perform” rating. On Wednesday, January 20 the stock rating was upgraded by RBC Capital Markets to “Sector Perform”. The company was downgraded on Tuesday, September 22 by Zacks. Cross Research downgraded Sanmina Corp (NASDAQ:SANM) on Monday, October 31 to “Hold” rating. Goldman Sachs downgraded the shares of SANM in a report on Thursday, October 22 to “Neutral” rating. The firm has “Sell” rating given on Friday, October 23 by Citigroup. The firm earned “Neutral” rating on Tuesday, July 21 by Longbow. The company was maintained on Wednesday, November 2 by Needham. The firm earned “Hold” rating on Tuesday, July 26 by Craig Hallum.
Insitutional Activity: The institutional sentiment increased to 1.15 in 2016 Q2. Its up 0.20, from 0.95 in 2016Q1. The ratio increased, as 16 funds sold all Sanmina Corp shares owned while 94 reduced positions. 40 funds bought stakes while 65 increased positions. They now own 67.20 million shares or 9.03% less from 73.86 million shares in 2016Q1.
Acadian Asset Mngmt Limited Liability Corporation owns 742,885 shares or 0.1% of their US portfolio. Foundry Partners Lc holds 373,321 shares or 0.57% of its portfolio. Rhumbline Advisers, a Massachusetts-based fund reported 116,454 shares. Hanseatic Mngmt Services has invested 0% of its portfolio in Sanmina Corp (NASDAQ:SANM). Moreover, Bluecrest Cap has 0.01% invested in Sanmina Corp (NASDAQ:SANM) for 9,612 shares. Aperio Grp Inc Limited Liability last reported 0% of its portfolio in the stock. Susquehanna Group Llp accumulated 14,633 shares or 0% of the stock. Schwab Charles Invest last reported 379,890 shares in the company. Opus Grp Incorporated Ltd has 192,801 shares for 1.15% of their US portfolio. Moreover, Bogle Invest Management Ltd Partnership De has 0.49% invested in Sanmina Corp (NASDAQ:SANM) for 264,026 shares. Ajo Limited Partnership, a Pennsylvania-based fund reported 216,760 shares. Blackrock Japan Limited, a Japan-based fund reported 3,559 shares. State Teachers Retirement System last reported 75,023 shares in the company. Ubs Asset Mgmt Americas Incorporated holds 79,516 shares or 0% of its portfolio. Teachers Advisors last reported 0.04% of its portfolio in the stock.
Insider Transactions: Since August 9, 2016, the stock had 0 buys, and 8 insider sales for $9.13 million net activity. On Wednesday, August 24 the insider REID ALAN McWILLIAMS sold $264,500. Another trade for 109,754 shares valued at $3.32 million was sold by EULAU ROBERT K. SHORTRIDGE WAYNE sold $104,216 worth of stock. SOLA JURE sold $2.25 million worth of stock. WARD JACKIE M also sold $614,579 worth of Sanmina Corp (NASDAQ:SANM) shares. 23,933 Sanmina Corp (NASDAQ:SANM) shares with value of $686,882 were sold by BONKE NEIL R. Goldsberry John sold $350,382 worth of Sanmina Corp (NASDAQ:SANM) on Monday, August 29.
The stock increased 3.78% or $1.2 during the last trading session, hitting $32.95. About 538,466 shares traded hands. Sanmina Corp (NASDAQ:SANM) has risen 45.04% since April 21, 2016 and is uptrending. It has outperformed by 39.71% the S&P500.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The company has a market cap of $2.42 billion. The Firm provides these offerings primarily to original equipment manufacturers , in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries. It has a 13.8 P/E ratio. The Company’s activities are managed as two businesses such as Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS).
According to Zacks Investment Research, “Sanmina Corporation is engaged in providing electronics contract manufacturing services. It focuses on engineering and fabricating complex components and also on providing complete end-to-end supply chain solutions to Original Equipment Manufacturers. The Company’s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test; direct order fulfillment and logistics services, and after-market product service and support. Sanmina Corporation, formerly known as Sanmina-SCI Corp., is based in San Jose, California.”
Analysts await Sanmina Corp (NASDAQ:SANM) to report earnings on January, 23. They expect $0.66 earnings per share, up 20.00% or $0.11 from last year’s $0.55 per share. SANM’s profit will be $48.47M for 12.48 P/E if the $0.66 EPS becomes a reality. After $0.64 actual earnings per share reported by Sanmina Corp for the previous quarter, Wall Street now forecasts 3.13% EPS growth.
More important recent Sanmina Corp (NASDAQ:SANM) news were published by: Fool.com which released: “Why Sanmina Corp. Stock Plunged Today” on July 26, 2016, also Marketwatch.com published article titled: “Sanmina Corp. NASDAQ: SANM”, Quotes.Wsj.com published: “News Sanmina Corp.SANM” on February 11, 2011. More interesting news about Sanmina Corp (NASDAQ:SANM) was released by: Fool.com and their article: “Why Sanmina Corp. Jumped 20% Tuesday” with publication date: November 03, 2015.
Sanmina Corporation, incorporated on May 9, 1989, is a well-known provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Firm 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. The Company’s activities are managed as two businesses such as Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). The Companyâ€™s services include product design and engineering, including initial development, detailed design, prototyping, validation, preproduction services and manufacturing design release; manufacturing of components, subassemblies and complete systems; final system assembly and test, direct order fulfillment and logistics services, and after-market product service and support, and global supply chain management.
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