Oppenheimer Asset Management Inc. Has $3.53 Million Stock Holdings in Sanmina Corporation $SANM

Oppenheimer Asset Management Inc. trimmed its stake in shares of Sanmina Corporation (NASDAQ:SANM) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,054 shares of the electronics maker’s stock after selling 1,027 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.07% of Sanmina worth $3,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Moloney Securities Asset Management LLC increased its position in Sanmina by 3.9% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 3,668 shares of the electronics maker’s stock valued at $359,000 after purchasing an additional 138 shares during the period. XTX Topco Ltd increased its position in shares of Sanmina by 1.2% during the first quarter. XTX Topco Ltd now owns 11,886 shares of the electronics maker’s stock worth $905,000 after buying an additional 140 shares during the period. Xponance Inc. increased its position in shares of Sanmina by 3.4% during the first quarter. Xponance Inc. now owns 4,687 shares of the electronics maker’s stock worth $357,000 after buying an additional 152 shares during the period. Hsbc Holdings PLC raised its stake in Sanmina by 1.8% during the first quarter. Hsbc Holdings PLC now owns 8,659 shares of the electronics maker’s stock worth $659,000 after buying an additional 152 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its holdings in Sanmina by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 11,898 shares of the electronics maker’s stock valued at $1,164,000 after buying an additional 189 shares during the period. 92.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SANM shares. Wall Street Zen downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a report on Monday. Bank of America raised their target price on Sanmina from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sanmina in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $94.50.

Sanmina Trading Down 0.1%

Shares of Sanmina stock opened at $134.89 on Wednesday. The stock has a market capitalization of $7.19 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. Sanmina Corporation has a 52 week low of $63.67 and a 52 week high of $160.25. The stock has a 50 day moving average price of $121.47 and a two-hundred day moving average price of $103.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.91.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.11. Sanmina had a return on equity of 11.30% and a net margin of 3.22%.The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. Sanmina’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts anticipate that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

Sanmina Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.