Piedmont Investment Advisors LLC acquired a new stake in shares of Sanmina Corporation (NASDAQ:SANM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,400 shares of the electronics maker’s stock, valued at approximately $625,000.
Several other institutional investors also recently added to or reduced their stakes in SANM. Stifel Financial Corp raised its position in shares of Sanmina Corporation by 26.9% during the first quarter. Stifel Financial Corp now owns 7,412 shares of the electronics maker’s stock valued at $301,000 after buying an additional 1,571 shares during the last quarter. Neuberger Berman Group LLC increased its position in Sanmina Corporation by 127.8% in the first quarter. Neuberger Berman Group LLC now owns 26,778 shares of the electronics maker’s stock worth $1,087,000 after purchasing an additional 15,022 shares during the last quarter. United Services Automobile Association bought a new stake in Sanmina Corporation in the first quarter worth $499,000. OppenheimerFunds Inc. increased its position in Sanmina Corporation by 10.2% in the first quarter. OppenheimerFunds Inc. now owns 124,553 shares of the electronics maker’s stock worth $5,057,000 after purchasing an additional 11,551 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Sanmina Corporation by 1,268.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 40,765 shares of the electronics maker’s stock worth $1,655,000 after purchasing an additional 37,786 shares during the last quarter. Hedge funds and other institutional investors own 92.16% of the company’s stock.
Several research analysts have commented on SANM shares. ValuEngine lowered shares of Sanmina Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Sanmina Corporation in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, Royal Bank Of Canada dropped their price objective on shares of Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $43.25.
Sanmina Corporation (NASDAQ:SANM) traded down 0.64% during mid-day trading on Friday, hitting $38.65. The company had a trading volume of 17,588 shares. The company has a 50-day moving average price of $37.78 and a 200 day moving average price of $37.70. Sanmina Corporation has a 52-week low of $26.95 and a 52-week high of $42.95. The company has a market capitalization of $2.91 billion, a P/E ratio of 14.12 and a beta of 0.79.
Sanmina Corporation (NASDAQ:SANM) last announced its quarterly earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.74 billion. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, analysts forecast that Sanmina Corporation will post $3.01 EPS for the current fiscal year.
Sanmina Corporation announced that its Board of Directors has authorized a stock buyback program on Monday, September 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the electronics maker to buy up to 77% of its shares through open market purchases. Shares repurchase programs are usually a sign 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 company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $36.95, for a total value of $369,500.00. Following the completion of the sale, the vice president now owns 190,000 shares of the company’s stock, valued at $7,020,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.96% of the stock is owned by corporate insiders.
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Sanmina Corporation Company 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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