Hennessy Advisors Inc. lessened its stake in Sanmina Corporation (NASDAQ:SANM) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 994,663 shares of the electronics maker’s stock after selling 94,400 shares during the quarter. Sanmina Corporation accounts for approximately 1.1% of Hennessy Advisors Inc.’s holdings, making the stock its 25th biggest position. Hennessy Advisors Inc. owned approximately 1.32% of Sanmina Corporation worth $36,952,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of SANM. Ardevora Asset Management LLP purchased a new position in shares of Sanmina Corporation in the 2nd quarter worth about $36,256,000. Victory Capital Management Inc. raised its position in shares of Sanmina Corporation by 281.3% in the 2nd quarter. Victory Capital Management Inc. now owns 381,105 shares of the electronics maker’s stock worth $14,520,000 after purchasing an additional 281,166 shares during the last quarter. Westpac Banking Corp purchased a new position in shares of Sanmina Corporation in the 2nd quarter worth about $6,046,000. Robeco Institutional Asset Management B.V. raised its position in shares of Sanmina Corporation by 94.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 224,687 shares of the electronics maker’s stock worth $8,560,000 after purchasing an additional 108,990 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Sanmina Corporation in the 2nd quarter worth about $3,810,000. 91.05% of the stock is owned by hedge funds and other institutional investors.
Sanmina Corporation (NASDAQ:SANM) traded down $0.05 during midday trading on Friday, reaching $34.05. The company had a trading volume of 61,510 shares, compared to its average volume of 541,023. Sanmina Corporation has a 52 week low of $29.15 and a 52 week high of $42.95. The company has a market cap of $2,555.11, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.94 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.62 and a quick ratio of 0.97.
Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.12). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Sanmina Corporation had a return on equity of 12.27% and a net margin of 2.02%. Sanmina Corporation’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. equities research analysts anticipate that Sanmina Corporation will post 3 EPS for the current year.
Sanmina Corporation announced that its board has initiated a share buyback plan on Monday, September 18th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the electronics maker to repurchase up to 77% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
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SANM has been the subject of several research analyst reports. Royal Bank Of Canada reduced their price objective on Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating for the company in a report on Tuesday, July 25th. Bank of America Corporation downgraded Sanmina Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Sanmina Corporation in a report on Wednesday, October 4th. ValuEngine downgraded Sanmina Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research upgraded Sanmina Corporation from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $43.25.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total transaction of $372,100.00. Following the completion of the sale, the vice president now directly owns 180,000 shares in the company, valued at approximately $6,697,800. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.96% of the company’s stock.
Sanmina Corporation Company 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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