Economy

Sanmina Corporation (NASDAQ:SANM) Sees Price Swing - Down $5.30

Sanmina Corporation (SANM) stock moved with shift of -14.98% in the past week. Short shares grew from 1,465,240 to 1,565,972 over that period.

The top 5 institutional holders, in ascending order, are as follows: BLACKROCK INC. with 10.97 million shares, VANGUARD GROUP INC with 7.19 million shares, DIMENSIONAL FUND ADVISORS LP with 6.35 million shares, LSV ASSET MANAGEMENT with 3.73 million shares, and NORTHERN TRUST CORP with 2.32 million shares.

A number of brokerages have weighed in on SANM. Arrowstreet L P has invested 0.03% in Sanmina Corp (NASDAQ:SANM). Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. BlackRock Inc. increased its position in Sanmina Corp.by 42.0% in the first quarter. RBC Capital Markets upgraded Sanmina Corp (NASDAQ:SANM) rating on Wednesday, January 20. Goldman Sachs Group Inc. now owns 128,192 shares of the company's stock worth $2,997,000 after buying an additional 3,349 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Sanmina Corporation by 70.7% in the 2nd quarter. Of those insider trades, 320,000 shares of Sanmina Corporation were purchased and 20,000 shares were sold. The stock traded as low as $32.43 and last traded at $32.73. Institutional investors own 91.51% of the company's stock.

Shares of Sanmina Corporation (NASDAQ:SANM) dropped 15.7% on Tuesday following a weaker than expected earnings announcement. So far 617,940 shares have changed hands.

Technical Analysis: The Company has the market capitalization of $2.46B.

Sanmina Corporation (SANM) closed 1.72% above its 200-day moving average and is 3.51% above another chart threshold, its 50-day moving average. (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 25th. As of the latest earnings report the EPS was $2.74 and is estimated to be $3.01 for the current year with 75,372,000 shares now outstanding. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Sanmina Corp. The business's quarterly revenue was up 8.5% compared to the same quarter past year. During the same quarter in the prior year, the company earned $0.53 earnings per share.

Analysts mean recommendation for the stock is 2.3.

SANM has been the topic of a number of other research reports. Zacks downgraded the stock to "Hold" rating in Tuesday, September 22 report. ValuEngine raised Sanmina Corporation from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 1st. The stock of Sanmina Corp (NASDAQ:SANM) has "Buy" rating given on Wednesday, November 2 by Needham.

In other news, Director John Goldsberry sold 13,178 shares of the business's stock in a transaction on Monday, August 29th. There were 37 sold out positions, amounting to 975,348 shares. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Following the transaction, the vice president now owns 190,000 shares of the company's stock, valued at approximately $7,020,500.

Sanmina Corporation, launched on May 9, 1989, is a provider of integrated manufacturing solutions, components, products and fix, logistics and after-market services. The Company 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.



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