Sanmina Corporation (SANM) Stake Raised by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company lifted its holdings in shares of Sanmina Corporation (NASDAQ:SANM) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,384 shares of the electronics maker’s stock after purchasing an additional 24 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Sanmina Corporation worth $2,148,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC raised its stake in Sanmina Corporation by 4.1% in 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 during the period. Riverhead Capital Management LLC raised its stake in Sanmina Corporation by 70.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after acquiring an additional 1,627 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Sanmina Corporation in the 2nd quarter valued at about $203,000. Nisa Investment Advisors LLC raised its stake in Sanmina Corporation by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after acquiring an additional 200 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new stake in Sanmina Corporation in the 2nd quarter valued at about $229,000. Institutional investors own 91.05% of the company’s stock.
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Sanmina Corporation (NASDAQ SANM) opened at $33.05 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.62 and a quick ratio of 0.97. The firm has a market capitalization of $2,491.05, a P/E ratio of 12.38, a PEG ratio of 0.92 and a beta of 0.77.
Sanmina Corporation (NASDAQ:SANM) last issued its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.12). Sanmina Corporation had a return on equity of 12.27% and a net margin of 2.02%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. analysts anticipate that Sanmina Corporation will post 3 earnings per share for the current fiscal year.
Sanmina Corporation announced that its Board of Directors has initiated a stock buyback program on Monday, September 18th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the electronics maker to buy up to 77% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total transaction of $372,100.00. Following the completion of the transaction, the vice president now owns 180,000 shares of the company’s stock, valued at $6,697,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.96% of the stock is currently owned by insiders.
A number of equities research analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Bank of America Corporation cut Sanmina Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 31st. ValuEngine raised Sanmina Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Zacks Investment Research raised Sanmina Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $40.00 target price on shares of Sanmina Corporation in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.25.
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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