Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Sanmina Corp (NASDAQ:SANM) by 23.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,585 shares of the electronics maker’s stock after selling 1,070 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sanmina were worth $103,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SANM. Morgan Stanley grew its stake in shares of Sanmina by 100.1% in the 3rd quarter. Morgan Stanley now owns 497,079 shares of the electronics maker’s stock valued at $13,719,000 after buying an additional 248,655 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Sanmina by 8.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 43,432 shares of the electronics maker’s stock valued at $1,045,000 after buying an additional 3,381 shares during the period. Foundry Partners LLC grew its stake in shares of Sanmina by 9.0% in the 1st quarter. Foundry Partners LLC now owns 400,379 shares of the electronics maker’s stock valued at $11,551,000 after buying an additional 32,951 shares during the period. Prudential Financial Inc. grew its stake in shares of Sanmina by 56.8% in the 4th quarter. Prudential Financial Inc. now owns 561,898 shares of the electronics maker’s stock valued at $13,520,000 after buying an additional 203,486 shares during the period. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Sanmina in the 4th quarter valued at about $386,000. Hedge funds and other institutional investors own 91.73% of the company’s stock.
In related news, EVP Alan Mcwilliams Reid sold 9,845 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $33.46, for a total value of $329,413.70. Following the transaction, the executive vice president now owns 57,077 shares of the company’s stock, valued at approximately $1,909,796.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jure Sola sold 300,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $33.47, for a total transaction of $10,041,000.00. Following the completion of the transaction, the insider now directly owns 867,401 shares in the company, valued at approximately $29,031,911.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 312,607 shares of company stock worth $10,457,251. 5.55% of the stock is owned by insiders.
Several analysts have recently commented on SANM shares. BidaskClub upgraded Sanmina from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. TheStreet upgraded Sanmina from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Royal Bank of Canada raised their target price on Sanmina to $33.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 29th. Finally, Zacks Investment Research upgraded Sanmina from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Sanmina currently has an average rating of “Hold” and an average price target of $34.00.
Shares of SANM traded up $0.03 during trading hours on Friday, hitting $28.16. The stock had a trading volume of 293,850 shares, compared to its average volume of 457,310. The company has a market cap of $1.94 billion, a PE ratio of 15.30, a P/E/G ratio of 0.81 and a beta of 1.12. Sanmina Corp has a 1-year low of $22.30 and a 1-year high of $34.71.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, April 29th. The electronics maker reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.17. Sanmina had a net margin of 1.48% and a return on equity of 13.48%. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. Equities research analysts predict that Sanmina Corp will post 3.02 earnings per share for the current fiscal year.
Sanmina Company Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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