JPMorgan Chase & Co. Has $35.16 Million Holdings in Sanmina Corporation (SANM)
JPMorgan Chase & Co. lessened its holdings in Sanmina Corporation (NASDAQ:SANM) by 44.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 922,847 shares of the electronics maker’s stock after selling 734,879 shares during the quarter. JPMorgan Chase & Co. owned 1.22% of Sanmina Corporation worth $35,161,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Globeflex Capital L P purchased a new stake in Sanmina Corporation in the 1st quarter valued at approximately $401,000. Comerica Bank boosted its stake in shares of Sanmina Corporation by 5.8% during the 1st quarter. Comerica Bank now owns 83,320 shares of the electronics maker’s stock worth $3,212,000 after acquiring an additional 4,539 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Sanmina Corporation by 2.1% during the 1st quarter. Wells Fargo & Company MN now owns 531,561 shares of the electronics maker’s stock worth $21,580,000 after acquiring an additional 10,862 shares in the last quarter. Swiss National Bank boosted its stake in shares of Sanmina Corporation by 1.5% during the 1st quarter. Swiss National Bank now owns 121,600 shares of the electronics maker’s stock worth $4,937,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Sanmina Corporation by 98.2% during the 1st quarter. Bank of America Corp DE now owns 758,708 shares of the electronics maker’s stock worth $30,804,000 after acquiring an additional 375,871 shares in the last quarter. 92.78% of the stock is currently owned by institutional investors.
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Shares of Sanmina Corporation (SANM) opened at 37.15 on Friday. The company’s 50-day moving average is $36.27 and its 200 day moving average is $38.04. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 13.57 and a beta of 0.78. Sanmina Corporation has a 1-year low of $26.70 and a 1-year high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last announced its quarterly earnings results on Monday, July 24th. The electronics maker reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts expect that Sanmina Corporation will post $3.01 EPS for the current fiscal year.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $36.95, for a total value of $369,500.00. Following the completion of the transaction, the vice president now directly owns 190,000 shares of the company’s stock, valued at $7,020,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 30,000 shares of company stock valued at $1,125,600. Insiders own 4.96% of the company’s stock.
Several brokerages recently issued reports on SANM. Zacks Investment Research upgraded Sanmina Corporation from a “sell” rating to a “hold” rating in a research report on Thursday. Royal Bank Of Canada cut their price target on Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating for the company in a report on Tuesday, July 25th. ValuEngine upgraded Sanmina Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Sanmina Corporation in a report on Tuesday, July 25th. Finally, Bank of America Corporation restated a “buy” rating and set a $48.00 price objective on shares of Sanmina Corporation in a report on Thursday, June 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Sanmina Corporation currently has a consensus rating of “Buy” and a consensus price target of $42.80.
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.
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