Alberta Investment Management Corp raised its stake in Sanmina Corp (NASDAQ:SANM) by 20.7% during the first quarter, HoldingsChannel.com reports. The fund owned 102,194 shares of the electronics maker’s stock after acquiring an additional 17,500 shares during the quarter. Alberta Investment Management Corp’s holdings in Sanmina were worth $2,788,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in SANM. Nisa Investment Advisors LLC grew its position in Sanmina by 147.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 840 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 500 shares during the period. Synovus Financial Corp bought a new stake in shares of Sanmina during the first quarter worth $29,000. Panagora Asset Management Inc. bought a new stake in shares of Sanmina during the fourth quarter worth $54,000. First Bank & Trust grew its holdings in shares of Sanmina by 405.7% during the fourth quarter. First Bank & Trust now owns 2,058 shares of the electronics maker’s stock worth $70,000 after purchasing an additional 1,651 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Sanmina by 9.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,637 shares of the electronics maker’s stock worth $159,000 after purchasing an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 97.09% of the company’s stock.
In other Sanmina news, SVP Brent Billinger sold 922 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $27.35, for a total value of $25,216.70. Following the transaction, the senior vice president now owns 18,742 shares of the company’s stock, valued at $512,593.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.73% of the company’s stock.
Shares of SANM opened at $26.12 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.21. Sanmina Corp has a 12-month low of $18.34 and a 12-month high of $34.96. The firm has a market capitalization of $1.80 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.96. The stock’s fifty day simple moving average is $26.35 and its 200-day simple moving average is $29.58.
Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, April 27th. The electronics maker reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.23). Sanmina had a net margin of 1.44% and a return on equity of 10.40%. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company earned $0.91 EPS. The company’s revenue was up 21.9% compared to the same quarter last year. Analysts anticipate that Sanmina Corp will post 1.63 EPS for the current year.
Several analysts have recently commented on SANM shares. BidaskClub cut Sanmina from a “hold” rating to a “sell” rating in a report on Friday, April 17th. Zacks Investment Research cut Sanmina from a “hold” rating to a “sell” rating in a report on Friday, May 8th. Citigroup upped their price target on Sanmina from $22.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. ValuEngine lowered Sanmina from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Cfra cut their price target on Sanmina from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company presently has a consensus rating of “Sell” and an average price target of $32.67.
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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