Craig-Hallum Downgrades Sanmina Corp to Hold

Brokerage firm Craig-Hallum Downgrades its rating on Sanmina Corp(NASDAQ:SANM). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Craig-Hallum was issued on Jul 26, 2016.

Sanmina Corp (SANM) shares turned negative on Fridays trading session with the shares closing down -0.27 points or -1.05% at a volume of 7,00,958. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $25.775. The peak price level was also seen at $25.775 while the days lowest was $25.15. Finally the shares closed at $25.34. The 52-week high of the shares is $29.17 while the 52-week low is $16.31. According to the latest information available, the market cap of the company is $1,866 M.

Sanmina Corp(SANM) last announced its earnings results on Jul 25, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $1.67B. Analysts had an estimated revenue of $1.66B. Earnings per share were $0.63. Analysts had estimated an EPS of $0.63.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Jackie M Ward (director) sold 5,001 shares at $26.00 per share price.Also, On May 18, 2016, Charles Ii Kostalnick (EVP and Chief Business Officer) sold 15,834 shares at $25.24 per share price.On May 11, 2016, Wayne Shortridge (director) sold 6,000 shares at $24.62 per share price, according to the Form-4 filing with the securities and exchange commission.

Sanmina Corporation is a provider of integrated manufacturing solutions components products and repair 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. Its operations 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.

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