Hennessy Advisors Inc. decreased its stake in shares of Sanmina Corporation (NASDAQ:SANM – Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 334,200 shares of the electronics maker’s stock after selling 13,200 shares during the quarter. Sanmina makes up 2.6% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 2nd biggest holding. Hennessy Advisors Inc.’s holdings in Sanmina were worth $71,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Danske Bank A S purchased a new position in shares of Sanmina in the 2nd quarter valued at about $25,000. Keating Financial Advisory Services Inc. acquired a new stake in Sanmina in the second quarter valued at approximately $31,000. NewEdge Advisors LLC acquired a new stake in Sanmina in the second quarter valued at approximately $32,000. N.E.W. Advisory Services LLC acquired a new stake in Sanmina in the second quarter valued at approximately $36,000. Finally, MCF Advisors LLC lifted its stake in Sanmina by 2,333.3% in the second quarter. MCF Advisors LLC now owns 146 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.
Sanmina Stock Performance
NASDAQ:SANM opened at $165.57 on Monday. Sanmina Corporation has a 1 year low of $118.10 and a 1 year high of $288.68. The stock has a market cap of $8.87 billion, a P/E ratio of 29.62, a P/E/G ratio of 0.46 and a beta of 1.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.06 and a current ratio of 1.78. The stock has a 50-day simple moving average of $197.96 and a 200-day simple moving average of $191.36.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Sanmina from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 11th. Weiss Ratings lowered shares of Sanmina from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 18th. Zacks Research lowered shares of Sanmina from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Sanmina from $275.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $198.33.
Sanmina Company Profile
Sanmina Corporation is an electronics manufacturing services and integrated manufacturing solutions provider headquartered in San Jose, California. The company works with original equipment manufacturers to design, engineer, manufacture, assemble, test, and distribute complex electronic and mechanical products.
Its capabilities include printed circuit board assembly, backplanes, cable and wire harnesses, enclosures, precision machining, optical and radio-frequency components, and complete systems integration.
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