California Public Employees Retirement System lessened its holdings in shares of Sanmina Corporation (NASDAQ:SANM) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 276,210 shares of the electronics maker’s stock after selling 7,500 shares during the period. California Public Employees Retirement System owned about 0.37% of Sanmina Corporation worth $10,524,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in SANM. Mason Street Advisors LLC boosted its position in shares of Sanmina Corporation by 8.3% during the 1st quarter. Mason Street Advisors LLC now owns 17,372 shares of the electronics maker’s stock worth $705,000 after acquiring an additional 1,328 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Sanmina Corporation by 26.9% during the 1st quarter. Stifel Financial Corp now owns 7,412 shares of the electronics maker’s stock worth $301,000 after acquiring an additional 1,571 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Sanmina Corporation by 3,066.6% during the 1st quarter. Victory Capital Management Inc. now owns 99,939 shares of the electronics maker’s stock worth $4,058,000 after acquiring an additional 96,783 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Sanmina Corporation by 421.3% during the 1st quarter. Schroder Investment Management Group now owns 24,500 shares of the electronics maker’s stock worth $992,000 after acquiring an additional 19,800 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Sanmina Corporation by 2.4% during the 1st quarter. Arizona State Retirement System now owns 38,725 shares of the electronics maker’s stock worth $1,572,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.
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In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $37.21, for a total value of $372,100.00. Following the completion of the transaction, the vice president now owns 180,000 shares of the company’s stock, valued at approximately $6,697,800. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.96% of the stock is owned by insiders.
Several research firms recently issued reports on SANM. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Sanmina Corporation in a research report on Wednesday. ValuEngine lowered shares of Sanmina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $40.00 price target on shares of Sanmina Corporation in a research report on Friday, September 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Sanmina Corporation has an average rating of “Buy” and a consensus price target of $43.25.
Sanmina Corporation (SANM) opened at 38.60 on Friday. The company has a 50-day moving average of $36.99 and a 200 day moving average of $37.84. Sanmina Corporation has a 52 week low of $26.70 and a 52 week high of $42.95. The company has a market cap of $2.91 billion, a P/E ratio of 14.10 and a beta of 0.79.
Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm earned $0.63 EPS. Sanmina Corporation’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Sanmina Corporation will post $3.01 EPS for the current fiscal year.
Sanmina Corporation announced that its Board of Directors has authorized a share buyback program on Monday, September 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the electronics maker to purchase up to 77% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Sanmina Corporation Profile
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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