Oppenheimer Asset Management Inc. reduced its holdings in Sanmina Corp (NASDAQ:SANM) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,980 shares of the electronics maker’s stock after selling 1,601 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Sanmina were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Earnest Partners LLC increased its stake in Sanmina by 5.5% in the fourth quarter. Earnest Partners LLC now owns 3,215,503 shares of the electronics maker’s stock valued at $110,099,000 after purchasing an additional 168,332 shares during the last quarter. State Street Corp increased its stake in Sanmina by 4.1% in the fourth quarter. State Street Corp now owns 2,141,280 shares of the electronics maker’s stock valued at $73,317,000 after purchasing an additional 83,899 shares during the last quarter. Norges Bank acquired a new position in Sanmina in the fourth quarter valued at $37,322,000. Fuller & Thaler Asset Management Inc. increased its stake in Sanmina by 62.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,025,762 shares of the electronics maker’s stock worth $27,983,000 after acquiring an additional 394,544 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Sanmina by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 987,416 shares of the electronics maker’s stock worth $33,809,000 after acquiring an additional 62,849 shares during the last quarter. Hedge funds and other institutional investors own 97.09% of the company’s stock.
Several equities research analysts have commented on the company. Cfra dropped their price target on Sanmina from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, April 28th. Citigroup upped 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. BidaskClub lowered Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, April 17th. Zacks Investment Research lowered Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, May 8th. Finally, ValuEngine lowered Sanmina from a “hold” rating to a “sell” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Sanmina has an average rating of “Sell” and a consensus price target of $32.67.
Shares of NASDAQ SANM opened at $26.42 on Friday. Sanmina Corp has a 1-year low of $18.34 and a 1-year high of $34.96. The business has a 50-day moving average of $26.35 and a 200-day moving average of $29.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.58 and a quick ratio of 1.16. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.35 and a beta of 0.96.
Sanmina (NASDAQ:SANM) last issued 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 return on equity of 10.40% and a net margin of 1.44%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned $0.91 EPS. Sanmina’s quarterly revenue was up 21.9% on a year-over-year basis. Research analysts expect that Sanmina Corp will post 1.63 EPS for the current fiscal year.
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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