BlackRock Inc. boosted its holdings in Sanmina Corp (NASDAQ:SANM) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,042,631 shares of the electronics maker’s stock after purchasing an additional 293,968 shares during the quarter. BlackRock Inc. owned about 14.68% of Sanmina worth $241,626,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Morgan Stanley increased its holdings in shares of Sanmina by 100.1% during the third quarter. Morgan Stanley now owns 497,079 shares of the electronics maker’s stock valued at $13,719,000 after acquiring an additional 248,655 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Sanmina by 1.4% during the third quarter. Vanguard Group Inc. now owns 6,722,381 shares of the electronics maker’s stock valued at $185,538,000 after acquiring an additional 93,242 shares in the last quarter. Federated Investors Inc. PA increased its holdings in shares of Sanmina by 9.0% during the third quarter. Federated Investors Inc. PA now owns 48,658 shares of the electronics maker’s stock valued at $1,343,000 after acquiring an additional 4,006 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Sanmina by 1.4% during the third quarter. Vanguard Group Inc now owns 6,722,381 shares of the electronics maker’s stock valued at $185,538,000 after acquiring an additional 93,242 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Sanmina by 2.2% during the third quarter. Canada Pension Plan Investment Board now owns 129,700 shares of the electronics maker’s stock valued at $3,580,000 after acquiring an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.
In related news, CFO David Robert Anderson sold 14,167 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $31.89, for a total transaction of $451,785.63. Following the completion of the sale, the chief financial officer now owns 92,000 shares in the company, valued at $2,933,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alan Mcwilliams Reid sold 6,052 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $32.42, for a total value of $196,205.84. The disclosure for this sale can be found here. Insiders have sold 238,126 shares of company stock valued at $7,654,959 in the last quarter. 5.55% of the stock is currently owned by corporate insiders.
SANM has been the subject of several recent research reports. Citigroup downgraded Sanmina from a “buy” rating to a “neutral” rating in a report on Thursday, December 20th. BidaskClub upgraded Sanmina from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, Royal Bank of Canada boosted their price objective on Sanmina to $33.00 and gave the company a “sector perform” rating in a report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $36.00.
Shares of Sanmina stock opened at $30.55 on Friday. Sanmina Corp has a 12-month low of $22.30 and a 12-month high of $34.30. The firm has a market cap of $2.09 billion, a P/E ratio of 16.60 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.01.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, January 28th. The electronics maker reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.12. Sanmina had a return on equity of 11.86% and a net margin of 1.35%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. Sanmina’s revenue was up 25.4% compared to the same quarter last year.
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Sanmina Company Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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