Could Sanmina Corp Lose Strenght? Option Traders Don’t Think So

 Could Sanmina Corp Lose Strenght? Option Traders Don't Think So

In today’s session Sanmina Corp (SANM) registered an unusually high (172) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious SANM increase. With 172 contracts traded and 574 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: SANM161118C00029000 closed last at: $1.5 or 36.4% up. About 85,744 shares traded hands. Sanmina Corp (NASDAQ:SANM) has risen 20.23% since April 1, 2016 and is uptrending. It has outperformed by 19.02% the S&P500.

Analysts await Sanmina Corp (NASDAQ:SANM) to report earnings on November, 7. They expect $0.67 EPS, up 26.42% or $0.14 from last year’s $0.53 per share. SANM’s profit will be $49.54 million for 10.60 P/E if the $0.67 EPS becomes a reality. After $0.56 actual EPS reported by Sanmina Corp for the previous quarter, Wall Street now forecasts 19.64% EPS growth.

Sanmina Corp (NASDAQ:SANM) Ratings Coverage

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 -3.52% below today’s ($28.4) stock price. Sanmina-SCI Corporation has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Goldman Sachs downgraded Sanmina Corp (NASDAQ:SANM) on Thursday, October 22 to “Neutral” rating. The stock of Sanmina Corp (NASDAQ:SANM) has “Sell” rating given on Friday, October 23 by Citigroup. Argus Research maintained Sanmina Corp (NASDAQ:SANM) on Wednesday, November 4 with “Buy” rating. As per Tuesday, January 26, the company rating was upgraded by Citigroup. Needham maintained Sanmina Corp (NASDAQ:SANM) rating on Wednesday, November 2. Needham has “Buy” rating and $33 price target. The company was maintained on Tuesday, November 3 by RBC Capital Markets. Longbow upgraded Sanmina Corp (NASDAQ:SANM) on Tuesday, July 21 to “Neutral” rating. The rating was upgraded by RBC Capital Markets to “Sector Perform” on Wednesday, January 20. The stock of Sanmina Corp (NASDAQ:SANM) has “Neutral” rating given on Monday, August 3 by Goldman Sachs. The company was downgraded on Tuesday, September 22 by Zacks.

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.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.38, from 1.33 in 2016Q1. The ratio dived, 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.
Engineers Gate Manager Limited Partnership owns 27,255 shares or 0.05% of their US portfolio. Hightower Lc holds 0.03% or 74,815 shares in its portfolio. Deutsche Bancorp Ag holds 318,715 shares or 0.01% of its portfolio. Barrow Hanley Mewhinney & Strauss Ltd, a Texas-based fund reported 136,785 shares. Bluecrest Cap Management Ltd last reported 0.01% of its portfolio in the stock. Hsbc Public Ltd last reported 0% of its portfolio in the stock. Airain Ltd last reported 44,778 shares in the company. The Netherlands-based Robeco Institutional Asset Mngmt Bv has invested 0.03% in Sanmina Corp (NASDAQ:SANM). Metropolitan Life Insur Ny last reported 0.01% of its portfolio in the stock. Qs Ltd Llc reported 452,026 shares or 0.1% of all its holdings. Cornercap Counsel Inc last reported 0.3% of its portfolio in the stock. Grantham Mayo Van Otterloo Ltd Limited Liability Company has 0.04% invested in the company for 356,893 shares. Paloma Prns, a Connecticut-based fund reported 14,775 shares. The California-based Aperio Gru Limited has invested 0% in Sanmina Corp (NASDAQ:SANM). Bogle Investment Mngmt L P De last reported 0.49% of its portfolio in the stock.

Insider Transactions: Since May 4, 2016, the stock had 0 insider purchases, and 6 insider sales for $2.80 million net activity. On Monday, May 16 the insider Kostalnick Charles II sold $399,680. SOLA JURE sold $1.54M worth of stock or 58,531 shares. REID ALAN McWILLIAMS also sold $264,500 worth of Sanmina Corp (NASDAQ:SANM) on Wednesday, August 24. SHORTRIDGE WAYNE also sold $147,731 worth of Sanmina Corp (NASDAQ:SANM) shares. Goldsberry John sold $350,382 worth of stock.

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 $2.10 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 11.8 P/E ratio. The Company’s activities are managed as two businesses such as Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS).

SANM Company Profile

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 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, and global supply chain management.

More notable 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 with their article: “Sanmina Corp. NASDAQ: SANM” published on July 22, 2009, Quotes.Wsj.com published: “News Sanmina Corp.SANM” on February 11, 2011. More interesting news about Sanmina Corp (NASDAQ:SANM) were released by: Fool.com and their article: “Why Sanmina Corp. Jumped 20% Tuesday” published on November 03, 2015 as well as Fool.com‘s news article titled: “Why Sanmina Corp Stock Sank Today” with publication date: April 21, 2015.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment