Wellington Management Group LLP Sells 1,019 Shares of Sanmina Corp (NASDAQ:SANM)

Wellington Management Group LLP decreased its stake in shares of Sanmina Corp (NASDAQ:SANM) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,864 shares of the electronics maker’s stock after selling 1,019 shares during the period. Wellington Management Group LLP’s holdings in Sanmina were worth $351,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in Sanmina by 18.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 63,248 shares of the electronics maker’s stock valued at $1,725,000 after purchasing an additional 10,012 shares during the period. Alliancebernstein L.P. lifted its position in Sanmina by 8.4% during the first quarter. Alliancebernstein L.P. now owns 215,923 shares of the electronics maker’s stock valued at $5,890,000 after purchasing an additional 16,770 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its position in Sanmina by 2.9% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,027,885 shares of the electronics maker’s stock valued at $28,041,000 after purchasing an additional 28,600 shares during the period. Canada Pension Plan Investment Board bought a new position in Sanmina during the first quarter valued at approximately $1,861,000. Finally, FDx Advisors Inc. bought a new position in Sanmina during the first quarter valued at approximately $2,472,000. Institutional investors own 94.85% of the company’s stock.

Shares of NASDAQ SANM opened at $25.02 on Wednesday. The firm has a fifty day moving average price of $26.19 and a 200-day moving average price of $28.46. 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 stock has a market cap of $1.63 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.22 and a beta of 0.93. Sanmina Corp has a 1 year low of $18.34 and a 1 year high of $34.96.

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

In other news, SVP Brent Billinger sold 922 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $27.35, for a total value of $25,216.70. Following the completion of the sale, the senior vice president now directly owns 18,742 shares of the company’s stock, valued at $512,593.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.73% of the company’s stock.

SANM has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Thursday, May 21st. Citigroup upped their target price on shares of Sanmina from $22.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Cfra reduced their target price on shares of Sanmina from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, April 28th. Zacks Investment Research cut shares of Sanmina from a “hold” rating to a “sell” rating in a report on Friday, May 8th. Finally, BidaskClub cut shares of Sanmina from a “sell” rating to a “strong sell” rating in a report on Saturday, June 20th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock has a consensus rating of “Sell” and a consensus target price of $32.67.

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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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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