Short Interest in Sanmina Co. (NASDAQ:SANM) Declines By 26.4%

Sanmina Co. (NASDAQ:SANM) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,480,000 shares, a decrease of 26.4% from the October 15th total of 2,010,000 shares. Based on an average trading volume of 405,400 shares, the short-interest ratio is presently 3.7 days. Approximately 2.8% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SANM shares. Craig Hallum lifted their price target on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Sanmina from a “hold” rating to a “buy” rating in a report on Thursday, November 7th.

Sanmina Stock Performance

SANM stock traded down $0.69 during trading on Friday, reaching $76.96. The stock had a trading volume of 238,874 shares, compared to its average volume of 427,437. The stock’s 50 day moving average is $69.97 and its two-hundred day moving average is $68.57. The firm has a market cap of $4.21 billion, a PE ratio of 19.68, a PEG ratio of 1.32 and a beta of 0.89. Sanmina has a 52 week low of $48.58 and a 52 week high of $86.05. The company has a current ratio of 2.05, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. As a group, equities analysts anticipate that Sanmina will post 4.84 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of Sanmina by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,515,128 shares of the electronics maker’s stock worth $103,727,000 after purchasing an additional 35,622 shares in the last quarter. Barclays PLC grew its holdings in Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker’s stock valued at $6,358,000 after purchasing an additional 69,431 shares during the period. Weiss Asset Management LP increased its position in Sanmina by 590.7% in the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after buying an additional 325,974 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Sanmina by 11.0% in the third quarter. Quantinno Capital Management LP now owns 3,649 shares of the electronics maker’s stock worth $250,000 after buying an additional 362 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of Sanmina during the 3rd quarter valued at about $219,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

About Sanmina

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