Sanmina Corporation (NASDAQ:SANM) Sees Large Decline in Short Interest

Key Points

• Short interest in Sanmina fell sharply in June, dropping 52.2% to 1,008,896 shares as of June 30. That represents about 1.9% of shares outstanding, with a very low days-to-cover ratio of 0.4 days.
• Sanmina posted strong quarterly results, with EPS of $3.16 beating estimates by $0.74 and revenue of $4.01 billion topping expectations. The company also raised guidance, projecting Q3 2026 EPS of 2.55-2.85 and FY 2026 EPS of 10.75-11.35.
• Insiders sold shares recently, including CEO Jure Sola and CFO Jonathan P. Faust, with total insider sales of $35.7 million over the last 90 days. Meanwhile, analyst sentiment is mixed, with a consensus rating of Hold and an average target price of $160.00.

Sanmina Corporation (NASDAQ:SANM - Get Free Report) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 1,008,896 shares, a drop of 52.2% from the June 15th total of 2,110,739 shares. Approximately 1.9% of the company's stock are sold short. Based on an average trading volume of 2,494,078 shares, the days-to-cover ratio is currently 0.4 days.

Sanmina Price Performance

NASDAQ SANM opened at $201.80 on Tuesday. The stock has a 50-day simple moving average of $241.84 and a 200 day simple moving average of $183.56. Sanmina has a twelve month low of $95.49 and a twelve month high of $288.68. The stock has a market capitalization of $10.82 billion, a PE ratio of 42.66, a P/E/G ratio of 0.80 and a beta of 1.56. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.71.

Sanmina (NASDAQ:SANM - Get Free Report) last released its earnings results on Monday, April 27th. The electronics maker reported $3.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.74. Sanmina had a return on equity of 16.23% and a net margin of 2.29%.The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the firm posted $1.16 EPS. The company's revenue was up 102.3% on a year-over-year basis. Sanmina has set its Q3 2026 guidance at 2.550-2.850 EPS and its FY 2026 guidance at 10.750-11.350 EPS. Research analysts anticipate that Sanmina will post 9.36 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SANM shares. Wall Street Zen upgraded Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 6th. JPMorgan Chase & Co. started coverage on shares of Sanmina in a research report on Monday, March 30th. They issued a "neutral" rating and a $145.00 price target on the stock. Zacks Research cut shares of Sanmina from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Weiss Ratings raised shares of Sanmina from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, May 28th. Finally, Susquehanna initiated coverage on shares of Sanmina in a research note on Wednesday, April 1st. They issued a "neutral" rating and a $135.00 target price on the stock. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Sanmina currently has an average rating of "Hold" and a consensus target price of $160.00.

Insiders Place Their Bets

In related news, CEO Jure Sola sold 118,368 shares of Sanmina stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $228.84, for a total value of $27,087,333.12. Following the completion of the sale, the chief executive officer owned 1,227,573 shares of the company's stock, valued at approximately $280,917,805.32. The trade was a 8.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jonathan P. Faust sold 10,076 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $265.80, for a total transaction of $2,678,200.80. Following the completion of the sale, the chief financial officer owned 77,000 shares of the company's stock, valued at $20,466,600. This represents a 11.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 156,509 shares of company stock worth $35,699,476 in the last 90 days. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Sanmina

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amundi bought a new stake in shares of Sanmina in the first quarter valued at about $391,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sanmina by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,968 shares of the electronics maker's stock valued at $2,435,000 after acquiring an additional 1,387 shares during the period. United Services Automobile Association acquired a new position in Sanmina in the 1st quarter valued at approximately $256,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Sanmina by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,287 shares of the electronics maker's stock valued at $9,621,000 after acquiring an additional 12,061 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Sanmina by 572.5% in the 1st quarter. Jane Street Group LLC now owns 79,846 shares of the electronics maker's stock worth $6,083,000 after acquiring an additional 67,973 shares during the period. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Sanmina Company Profile

Sanmina Corporation is a leading global electronics manufacturing services (EMS) provider specializing in the design, production and end-to-end supply chain solutions for complex electronic products. Founded in 1980, the company has built a reputation for delivering high-reliability manufacturing across a wide range of industries, including communications, computing, aerospace and defense, medical, automotive and industrial sectors.

Sanmina's core offerings encompass product design and engineering support, precision PCB fabrication and assembly, system integration, testing, and final system deployment.

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