California State Teachers Retirement System trimmed its holdings in shares of Sanmina Corp (NASDAQ:SANM) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,614 shares of the electronics maker’s stock after selling 7,211 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Sanmina worth $4,592,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its stake in shares of Sanmina by 3.6% in the 2nd quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock valued at $73,977,000 after purchasing an additional 67,853 shares during the period. Martingale Asset Management L P lifted its stake in shares of Sanmina by 6.7% in the 2nd quarter. Martingale Asset Management L P now owns 203,968 shares of the electronics maker’s stock valued at $7,772,000 after purchasing an additional 12,814 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Sanmina in the 2nd quarter valued at $625,000. Delphi Management Inc. MA lifted its stake in shares of Sanmina by 5.9% in the 2nd quarter. Delphi Management Inc. MA now owns 66,377 shares of the electronics maker’s stock valued at $2,529,000 after purchasing an additional 3,677 shares during the period. Finally, AJO LP lifted its stake in shares of Sanmina by 33.7% in the 2nd quarter. AJO LP now owns 273,309 shares of the electronics maker’s stock valued at $10,413,000 after purchasing an additional 68,920 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.
A number of equities analysts have weighed in on SANM shares. Zacks Investment Research upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a research report on Friday, September 8th. ValuEngine cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Sanmina in a research report on Wednesday, October 4th. Bank of America cut shares of Sanmina from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 31st. Finally, Argus cut shares of Sanmina from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $44.33.
Shares of Sanmina Corp (NASDAQ SANM) opened at $33.60 on Friday. Sanmina Corp has a 1-year low of $29.95 and a 1-year high of $42.95. The stock has a market cap of $2,430.00, a price-to-earnings ratio of 18.88, a PEG ratio of 0.93 and a beta of 0.79. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.24.
Sanmina (NASDAQ:SANM) last released its earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.12). Sanmina had a return on equity of 12.27% and a net margin of 2.02%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the company earned $0.72 EPS. Sanmina’s quarterly revenue was up 5.4% compared to the same quarter last year. equities research analysts forecast that Sanmina Corp will post 3 EPS for the current fiscal year.
Sanmina announced that its board has initiated a share buyback program on Monday, September 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the electronics maker to reacquire up to 77% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are 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.
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