Oppenheimer Asset Management Inc. Sells 1,027 Shares of Sanmina Corporation $SANM

Oppenheimer Asset Management Inc. cut its stake in Sanmina Corporation (NASDAQ:SANM) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 36,054 shares of the electronics maker’s stock after selling 1,027 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Sanmina were worth $3,527,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Sanmina by 34.1% during the first quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker’s stock worth $131,000 after buying an additional 437 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sanmina by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,210 shares of the electronics maker’s stock worth $397,000 after acquiring an additional 476 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Sanmina by 87.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,311 shares of the electronics maker’s stock worth $785,000 after acquiring an additional 4,810 shares in the last quarter. Kendall Capital Management grew its stake in shares of Sanmina by 3.1% in the 1st quarter. Kendall Capital Management now owns 6,395 shares of the electronics maker’s stock worth $487,000 after acquiring an additional 190 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Sanmina by 2.1% in the first quarter. Principal Financial Group Inc. now owns 291,731 shares of the electronics maker’s stock valued at $22,224,000 after purchasing an additional 5,885 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SANM shares. Bank of America boosted their price target on shares of Sanmina from $100.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Sanmina in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered Sanmina from a “strong-buy” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $94.50.

Sanmina Stock Down 0.1%

SANM opened at $134.89 on Wednesday. Sanmina Corporation has a twelve month low of $63.67 and a twelve month high of $160.25. The company’s 50-day moving average price is $121.47 and its two-hundred day moving average price is $103.33. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.40 and a beta of 1.19. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.11. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. Sanmina’s revenue was up 10.9% on a year-over-year basis. As a group, equities analysts expect that Sanmina Corporation will post 5.15 earnings per share for the current year.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.