Bank of America Corp DE grew its holdings in Sanmina Corp (NASDAQ:SANM) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 428,693 shares of the electronics maker’s stock after purchasing an additional 42,118 shares during the period. Bank of America Corp DE owned about 0.63% of Sanmina worth $12,560,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SANM. Stifel Financial Corp increased its holdings in shares of Sanmina by 21.1% in the 1st quarter. Stifel Financial Corp now owns 11,382 shares of the electronics maker’s stock valued at $298,000 after purchasing an additional 1,986 shares during the period. UBS Group AG increased its holdings in shares of Sanmina by 446.3% in the 1st quarter. UBS Group AG now owns 426,383 shares of the electronics maker’s stock valued at $11,150,000 after purchasing an additional 348,330 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of Sanmina by 46.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,481 shares of the electronics maker’s stock valued at $248,000 after buying an additional 3,000 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of Sanmina by 11.3% in the 1st quarter. WINTON GROUP Ltd now owns 136,032 shares of the electronics maker’s stock valued at $3,557,000 after buying an additional 13,819 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Sanmina in the 2nd quarter valued at approximately $221,000. Institutional investors own 93.10% of the company’s stock.
Several equities research analysts recently commented on the company. Citigroup boosted their price target on Sanmina from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. BidaskClub cut Sanmina from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 4th. ValuEngine cut Sanmina from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research cut Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $35.75.
Shares of NASDAQ SANM opened at $24.16 on Friday. The company has a market capitalization of $1.88 billion, a P/E ratio of 8.44, a PEG ratio of 1.37 and a beta of 0.48. Sanmina Corp has a 52 week low of $23.88 and a 52 week high of $39.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.73.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, July 30th. The electronics maker reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.73 billion. Sanmina had a negative net margin of 1.01% and a positive return on equity of 10.28%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. As a group, equities analysts forecast that Sanmina Corp will post 1.68 earnings per share for the current year.
Sanmina Company Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. The company offers product design and engineering solutions, 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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