ETRADE Capital Management LLC decreased its holdings in Sanmina Corp (NASDAQ:SANM) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,546 shares of the electronics maker’s stock after selling 2,209 shares during the quarter. ETRADE Capital Management LLC owned 0.06% of Sanmina worth $1,051,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of SANM. First Trust Advisors LP purchased a new position in shares of Sanmina in the first quarter valued at approximately $405,000. Nisa Investment Advisors LLC lifted its stake in Sanmina by 147.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 840 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Sanmina by 31.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,596 shares of the electronics maker’s stock worth $192,000 after purchasing an additional 1,346 shares in the last quarter. California Public Employees Retirement System raised its holdings in Sanmina by 11.6% during the fourth quarter. California Public Employees Retirement System now owns 243,014 shares of the electronics maker’s stock worth $8,321,000 after purchasing an additional 25,163 shares in the last quarter. Finally, Sadoff Investment Management LLC raised its holdings in Sanmina by 0.6% during the fourth quarter. Sadoff Investment Management LLC now owns 925,737 shares of the electronics maker’s stock worth $31,697,000 after purchasing an additional 5,950 shares in the last quarter. 97.09% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on SANM. BidaskClub cut shares of Sanmina from a “hold” rating to a “sell” rating in a report on Friday, April 17th. Citigroup lifted their target price on shares of Sanmina from $22.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Cfra cut their target price on shares of Sanmina from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, April 28th. ValuEngine cut shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Zacks Investment Research cut shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, May 8th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and an average target price of $32.67.
In other Sanmina news, SVP Brent Billinger sold 922 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $27.35, for a total transaction of $25,216.70. Following the sale, the senior vice president now directly owns 18,742 shares in the company, valued at approximately $512,593.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.73% of the stock is currently owned by insiders.
Shares of SANM opened at $26.42 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.58. The stock has a market capitalization of $1.80 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.35 and a beta of 0.96. The company’s fifty day moving average is $26.35 and its two-hundred day moving average is $29.58. Sanmina Corp has a 1 year low of $18.34 and a 1 year high of $34.96.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, April 27th. The electronics maker reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.23). The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $1.64 billion. Sanmina had a net margin of 1.44% and a return on equity of 10.40%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. Sell-side analysts predict that Sanmina Corp will post 1.63 EPS for the current year.
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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