LSV Asset Management Boosts Stake in Sanmina Corp. (SANM)
LSV Asset Management raised its stake in shares of Sanmina Corp. (NASDAQ:SANM) by 9.2% during the third quarter, Holdings Channel reports. The firm owned 3,198,154 shares of the company’s stock after buying an additional 270,354 shares during the period. LSV Asset Management’s holdings in Sanmina Corp. were worth $91,051,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Invictus RG raised its position in shares of Sanmina Corp. by 3,198.6% in the second quarter. Invictus RG now owns 4,651 shares of the company’s stock worth $125,000 after buying an additional 4,510 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Sanmina Corp. by 454.5% in the third quarter. Nisa Investment Advisors LLC now owns 6,100 shares of the company’s stock worth $174,000 after buying an additional 5,000 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Sanmina Corp. during the second quarter worth $230,000. SECOR Capital Advisors LP purchased a new position in shares of Sanmina Corp. during the second quarter worth $242,000. Finally, Parkwood LLC purchased a new position in shares of Sanmina Corp. during the third quarter worth $243,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.
Sanmina Corp. (NASDAQ:SANM) opened at 33.65 on Wednesday. Sanmina Corp. has a 52 week low of $16.31 and a 52 week high of $33.65. The company has a market cap of $2.47 billion, a P/E ratio of 14.14 and a beta of 1.18. The firm has a 50-day moving average price of $29.52 and a 200-day moving average price of $27.68.
Sanmina Corp. (NASDAQ:SANM) last released its earnings results on Tuesday, November 1st. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. The company earned $1.67 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Sanmina Corp. had a return on equity of 11.73% and a net margin of 2.90%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. Equities research analysts anticipate that Sanmina Corp. will post $2.74 EPS for the current fiscal year.
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A number of equities analysts have recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $31.00 target price on shares of Sanmina Corp. in a research report on Monday, October 31st. Needham & Company LLC upped their price target on Sanmina Corp. from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Zacks Investment Research downgraded Sanmina Corp. from a “hold” rating to a “sell” rating in a report on Thursday, November 3rd. Finally, Cross Research downgraded Sanmina Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $29.38.
In other news, Director Jackie M. Ward sold 19,387 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $31.70, for a total value of $614,567.90. Following the completion of the transaction, the director now owns 173,846 shares in the company, valued at approximately $5,510,918.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jackie M. Ward sold 20,848 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $31.87, for a total value of $664,425.76. Following the completion of the transaction, the director now owns 154,039 shares of the company’s stock, valued at approximately $4,909,222.93. The disclosure for this sale can be found here. 4.59% of the stock is owned by insiders.
Sanmina Corp. Company Profile
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries.
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