Earnest Partners LLC increased its stake in Sanmina Corp (NASDAQ:SANM) by 1.2% in the second quarter, HoldingsChannel reports. The fund owned 3,034,468 shares of the electronics maker’s stock after purchasing an additional 36,179 shares during the period. Earnest Partners LLC’s holdings in Sanmina were worth $91,884,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Sanmina in the 1st quarter valued at about $169,000. Ibex Investors LLC bought a new stake in shares of Sanmina in the 2nd quarter valued at about $229,000. LPL Financial LLC bought a new stake in shares of Sanmina in the 2nd quarter valued at about $231,000. Everence Capital Management Inc. bought a new stake in shares of Sanmina in the 1st quarter valued at about $253,000. Finally, NumerixS Investment Technologies Inc lifted its stake in shares of Sanmina by 97.6% in the 1st quarter. NumerixS Investment Technologies Inc now owns 9,282 shares of the electronics maker’s stock valued at $268,000 after acquiring an additional 4,585 shares during the last quarter. 93.12% of the stock is owned by institutional investors.
In related news, SVP Brent Billinger sold 931 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $30.12, for a total transaction of $28,041.72. Following the transaction, the senior vice president now owns 20,877 shares in the company, valued at approximately $628,815.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.55% of the stock is owned by insiders.
NASDAQ SANM opened at $32.73 on Friday. Sanmina Corp has a 1-year low of $22.30 and a 1-year high of $34.71. The firm has a market cap of $2.20 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 0.88 and a beta of 1.37. The company has a current ratio of 1.64, a quick ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $30.16 and a 200-day moving average of $30.28.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, July 29th. The electronics maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Sanmina had a return on equity of 13.98% and a net margin of 1.55%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the business earned $0.55 EPS. Sanmina’s revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that Sanmina Corp will post 2.98 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on SANM. BidaskClub raised Sanmina from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised Sanmina from a “sell” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Sanmina currently has a consensus rating of “Hold” and a consensus price target of $33.00.
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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