Catalyst Capital Advisors LLC purchased a new position in Sanmina Corporation (NASDAQ:SANM) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,200 shares of the electronics maker’s stock, valued at approximately $267,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. LS Investment Advisors LLC grew its stake in Sanmina by 4.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock valued at $133,000 after acquiring an additional 138 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Sanmina by 70.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after buying an additional 1,627 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Sanmina during the 2nd quarter valued at about $203,000. Nisa Investment Advisors LLC lifted its holdings in shares of Sanmina by 3.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after buying an additional 200 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Sanmina during the 2nd quarter valued at about $212,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.
SANM has been the subject of several research reports. BidaskClub lowered Sanmina from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Sanmina in a report on Wednesday, October 4th. ValuEngine lowered Sanmina from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded Sanmina from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $40.00 target price on shares of Sanmina in a report on Friday, September 1st. One 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 stock. The company has a consensus rating of “Hold” and a consensus price target of $44.33.
Sanmina Corporation (SANM) remained flat at $$31.15 on Thursday. 820,523 shares of the company traded hands, compared to its average volume of 559,401. The firm has a market capitalization of $2,247.05, a P/E ratio of 11.69, a PEG ratio of 0.87 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 Corporation has a 1 year low of $30.80 and a 1 year high of $42.95.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share 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 company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the company earned $0.72 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. sell-side analysts forecast that Sanmina Corporation will post 3 EPS for the current year.
Sanmina announced that its Board of Directors has authorized a share repurchase plan on Monday, September 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 77% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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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