Comerica Bank decreased its position in Sanmina Corp (NASDAQ:SANM) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,828 shares of the electronics maker’s stock after selling 6,467 shares during the quarter. Comerica Bank owned 0.10% of Sanmina worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in SANM. BlackRock Inc. lifted its position in Sanmina by 2.5% in the 2nd quarter. BlackRock Inc. now owns 9,526,317 shares of the electronics maker’s stock worth $279,120,000 after buying an additional 235,796 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in Sanmina by 10.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,467,766 shares of the electronics maker’s stock worth $72,306,000 after buying an additional 227,556 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Sanmina in the 2nd quarter worth approximately $6,602,000. Victory Capital Management Inc. lifted its position in Sanmina by 13.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,345,800 shares of the electronics maker’s stock worth $37,144,000 after buying an additional 155,999 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Sanmina in the 3rd quarter worth approximately $3,940,000. Institutional investors own 93.35% of the company’s stock.
Shares of Sanmina stock opened at $27.04 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.68 and a current ratio of 1.25. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 0.82 and a beta of 0.71. Sanmina Corp has a one year low of $22.62 and a one year high of $35.55.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, October 29th. The electronics maker reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Sanmina had a positive return on equity of 10.25% and a negative net margin of 1.28%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS.
A number of analysts recently weighed in on SANM shares. BidaskClub downgraded Sanmina from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. ValuEngine downgraded Sanmina from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded Sanmina from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Sanmina currently has an average rating of “Hold” and a consensus target price of $35.75.
In other Sanmina news, CFO David Robert Anderson sold 14,595 shares of Sanmina stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $26.02, for a total value of $379,761.90. Following the transaction, the chief financial officer now directly owns 39,000 shares of the company’s stock, valued at approximately $1,014,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.12% of the stock is owned by insiders.
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Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics, and after-market services. It operates through the Integrated Manufacturing Solutions (IMS); and Components, Products, and Services (CPS) segments. The IMS segment consists of printed circuit board assembly and test, final system assembly and test, and direct-order-fulfillment.
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