Sanmina Corporation (SANM) is Hillcrest Asset Management LLC’s 7th Largest Position
Hillcrest Asset Management LLC reduced its holdings in Sanmina Corporation (NASDAQ:SANM) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 342,130 shares of the electronics maker’s stock after selling 8,157 shares during the quarter. Sanmina Corporation accounts for 2.3% of Hillcrest Asset Management LLC’s portfolio, making the stock its 7th largest position. Hillcrest Asset Management LLC owned about 0.45% of Sanmina Corporation worth $12,710,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of SANM. Chicago Equity Partners LLC increased its position in shares of Sanmina Corporation by 30.1% during the 2nd quarter. Chicago Equity Partners LLC now owns 75,565 shares of the electronics maker’s stock valued at $2,879,000 after purchasing an additional 17,490 shares during the period. Martingale Asset Management L P increased its position in shares of Sanmina Corporation by 6.7% during the 2nd quarter. Martingale Asset Management L P now owns 203,968 shares of the electronics maker’s stock valued at $7,772,000 after purchasing an additional 12,814 shares during the period. Alpha Windward LLC acquired a new position in shares of Sanmina Corporation during the 2nd quarter valued at $469,000. Robeco Institutional Asset Management B.V. increased its position in shares of Sanmina Corporation by 94.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 224,687 shares of the electronics maker’s stock valued at $8,560,000 after purchasing an additional 108,990 shares during the period. Finally, Westpac Banking Corp acquired a new position in shares of Sanmina Corporation during the 2nd quarter valued at $6,046,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.
Sanmina Corporation (SANM) traded up $0.05 on Monday, hitting $34.15. The stock had a trading volume of 550,200 shares, compared to its average volume of 543,500. The company has a market cap of $2,573.96, a price-to-earnings ratio of 12.79, a PEG ratio of 0.95 and a beta of 0.77. The company has a current ratio of 1.62, a quick ratio of 0.97 and a debt-to-equity ratio of 0.24. Sanmina Corporation has a 1-year low of $29.15 and a 1-year high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.12). The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Sanmina Corporation had a return on equity of 12.27% and a net margin of 2.02%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. equities research analysts expect that Sanmina Corporation will post 3 EPS for the current fiscal year.
Sanmina Corporation announced that its Board of Directors has approved a stock buyback program on Monday, September 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the electronics maker to buy up to 77% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, VP Robert K. Eulau sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly owns 180,000 shares of the company’s stock, valued at approximately $6,697,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.96% of the company’s stock.
Several equities analysts have recently issued reports on SANM shares. Zacks Investment Research upgraded Sanmina Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. ValuEngine upgraded Sanmina Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Royal Bank Of Canada lowered their price target on Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Sanmina Corporation in a research report on Wednesday, October 4th. Finally, Argus lowered Sanmina Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company 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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