Ajo LP Buys 68,920 Shares of Sanmina Corporation (SANM)
Ajo LP increased its stake in Sanmina Corporation (NASDAQ:SANM) by 33.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273,309 shares of the electronics maker’s stock after purchasing an additional 68,920 shares during the period. Ajo LP owned 0.36% of Sanmina Corporation worth $10,413,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in SANM. BlackRock Inc. lifted its holdings in shares of Sanmina Corporation by 20,899.1% in the 1st quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock worth $449,352,000 after purchasing an additional 11,015,080 shares during the last quarter. Ardevora Asset Management LLP bought a new stake in shares of Sanmina Corporation in the 2nd quarter worth approximately $36,256,000. Vanguard Group Inc. lifted its holdings in shares of Sanmina Corporation by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock worth $293,059,000 after purchasing an additional 548,729 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Sanmina Corporation by 98.2% in the 1st quarter. Bank of America Corp DE now owns 758,708 shares of the electronics maker’s stock worth $30,804,000 after purchasing an additional 375,871 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Sanmina Corporation by 281.3% in the 2nd quarter. Victory Capital Management Inc. now owns 381,105 shares of the electronics maker’s stock worth $14,520,000 after purchasing an additional 281,166 shares during the last quarter. 92.78% of the stock is currently owned by institutional investors and hedge funds.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $36.95, for a total transaction of $369,500.00. Following the completion of the sale, the vice president now owns 190,000 shares in the company, valued at approximately $7,020,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 30,000 shares of company stock worth $1,125,600. Company insiders own 4.96% of the company’s stock.
Several analysts recently issued reports on the company. Royal Bank Of Canada cut their price target on Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 25th. Bank of America Corporation reissued a “buy” rating and issued a $48.00 price target on shares of Sanmina Corporation in a report on Thursday, June 15th. ValuEngine raised Sanmina Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Sanmina Corporation in a report on Tuesday, July 25th. Finally, Zacks Investment Research raised Sanmina Corporation from a “sell” rating to a “hold” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Sanmina Corporation currently has an average rating of “Buy” and an average price target of $42.80.
Shares of Sanmina Corporation (NASDAQ SANM) opened at 36.80 on Friday. The company has a market cap of $2.77 billion, a P/E ratio of 13.44 and a beta of 0.78. Sanmina Corporation has a 52 week low of $26.54 and a 52 week high of $42.95. The firm’s 50-day moving average price is $36.25 and its 200 day moving average price is $38.06.
Sanmina Corporation (NASDAQ:SANM) last announced its earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, equities analysts predict that Sanmina Corporation will post $3.01 EPS for the current fiscal year.
Sanmina Corporation 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.
Receive News & Ratings for Sanmina Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanmina Corporation and related companies with MarketBeat.com's FREE daily email newsletter.