Sanmina Corp (NASDAQ:SANM) Stake Raised by Alberta Investment Management Corp

Alberta Investment Management Corp boosted its holdings in Sanmina Corp (NASDAQ:SANM) by 20.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,194 shares of the electronics maker’s stock after acquiring an additional 17,500 shares during the quarter. Alberta Investment Management Corp owned about 0.15% of Sanmina worth $2,788,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its position in Sanmina by 147.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 840 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 500 shares in the last quarter. Synovus Financial Corp bought a new stake in Sanmina in the first quarter worth about $29,000. Panagora Asset Management Inc. bought a new stake in Sanmina in the fourth quarter worth about $54,000. First Bank & Trust raised its position in Sanmina by 405.7% in the fourth quarter. First Bank & Trust now owns 2,058 shares of the electronics maker’s stock worth $70,000 after acquiring an additional 1,651 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Sanmina by 9.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,637 shares of the electronics maker’s stock worth $159,000 after acquiring an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 97.09% of the company’s stock.

Shares of SANM opened at $26.12 on Friday. The business’s 50-day moving average price is $26.35 and its 200 day moving average price is $29.58. The stock has a market capitalization of $1.80 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.35 and a beta of 0.96. Sanmina Corp has a 1-year low of $18.34 and a 1-year high of $34.96. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, April 27th. The electronics maker reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.23). Sanmina had a net margin of 1.44% and a return on equity of 10.40%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the firm earned $0.91 EPS. The company’s revenue was up 21.9% compared to the same quarter last year. On average, research analysts predict that Sanmina Corp will post 1.63 earnings per share for the current year.

In other Sanmina news, SVP Brent Billinger sold 922 shares of Sanmina stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $27.35, for a total transaction of $25,216.70. Following the transaction, the senior vice president now owns 18,742 shares of the company’s stock, valued at approximately $512,593.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.73% of the company’s stock.

Several brokerages have commented on SANM. BidaskClub cut shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Friday, April 17th. Zacks Investment Research cut Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, May 8th. ValuEngine cut Sanmina from a “hold” rating to a “sell” rating in a research note on Thursday. Cfra dropped their price target on Sanmina from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, April 28th. Finally, Citigroup lifted their price target on Sanmina from $22.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock currently has an average rating of “Sell” and an average price target of $32.67.

About Sanmina

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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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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