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

Sanmina Co. (NASDAQ:SANM) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 1,480,000 shares, a drop 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 stock are short sold.

Sanmina Trading Down 1.2 %

SANM traded down $0.94 during trading on Thursday, reaching $77.65. 281,467 shares of the company’s stock were exchanged, compared to its average volume of 428,291. The company’s fifty day moving average price is $69.48 and its 200-day moving average price is $68.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 2.05. The firm has a market capitalization of $4.24 billion, a PE ratio of 20.10, a P/E/G ratio of 1.36 and a beta of 0.89. Sanmina has a fifty-two week low of $48.58 and a fifty-two week high of $86.05.

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

Institutional Investors Weigh In On Sanmina

A number of hedge funds have recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd acquired a new stake in shares of Sanmina in the first quarter worth approximately $741,000. Janus Henderson Group PLC lifted its holdings in Sanmina by 64.8% during the 1st quarter. Janus Henderson Group PLC now owns 134,807 shares of the electronics maker’s stock worth $8,381,000 after buying an additional 52,995 shares during the last quarter. Atria Investments Inc bought a new position in Sanmina during the 1st quarter valued at $1,005,000. Oppenheimer Asset Management Inc. lifted its position in Sanmina by 40.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,692 shares of the electronics maker’s stock worth $2,298,000 after buying an additional 10,000 shares in the last quarter. Finally, Caxton Associates LP raised its position in shares of Sanmina by 365.9% during the second quarter. Caxton Associates LP now owns 22,276 shares of the electronics maker’s stock valued at $1,476,000 after buying an additional 17,495 shares during the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Sanmina Company Profile

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.