Vident Investment Advisory LLC Raises Position in Sanmina Corp (SANM)

Vident Investment Advisory LLC lifted its stake in Sanmina Corp (NASDAQ:SANM) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,784 shares of the electronics maker’s stock after purchasing an additional 2,210 shares during the period. Vident Investment Advisory LLC owned 0.09% of Sanmina worth $2,630,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Riverhead Capital Management LLC increased its holdings in shares of Sanmina by 70.7% in the second quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after purchasing an additional 1,627 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Sanmina by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after purchasing an additional 200 shares in the last quarter. Advisory Services Network LLC bought a new position in Sanmina in the second quarter valued at approximately $212,000. BlueCrest Capital Management Ltd bought a new position in Sanmina in the second quarter valued at approximately $229,000. Finally, ETRADE Capital Management LLC bought a new position in Sanmina in the third quarter valued at approximately $228,000. 92.60% of the stock is owned by institutional investors and hedge funds.

SANM has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Sanmina from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. ValuEngine raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Royal Bank of Canada reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Sanmina in a research note on Friday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Sanmina in a research note on Wednesday, October 4th. Finally, Bank of America cut shares of Sanmina from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Sanmina currently has a consensus rating of “Hold” and a consensus target price of $44.33.

Sanmina Corp (NASDAQ:SANM) opened at $30.90 on Tuesday. Sanmina Corp has a 52 week low of $30.75 and a 52 week high of $42.95. The stock has a market cap of $2,220.00, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.86 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.24.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.12). Sanmina had a net margin of 2.02% and a return on equity of 12.27%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the business posted $0.72 earnings per share. Sanmina’s revenue was up 5.4% compared to the same quarter last year. equities research analysts predict that Sanmina Corp will post 3 EPS for the current year.

Sanmina declared that its Board of Directors has authorized a share repurchase program on Monday, September 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 77% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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Sanmina 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.

Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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