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.
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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