Crossmark Global Holdings Inc. purchased a new position in Sanmina Corporation (NASDAQ:SANM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,498 shares of the electronics maker’s stock, valued at approximately $799,000.
A number of other large investors have also modified their holdings of SANM. Ardevora Asset Management LLP acquired a new stake in Sanmina Corporation in the 2nd quarter worth about $36,256,000. Victory Capital Management Inc. boosted its stake in Sanmina Corporation by 281.3% in the 2nd quarter. Victory Capital Management Inc. now owns 381,105 shares of the electronics maker’s stock worth $14,520,000 after buying an additional 281,166 shares during the last quarter. Westpac Banking Corp acquired a new stake in Sanmina Corporation in the 2nd quarter worth about $6,046,000. Robeco Institutional Asset Management B.V. boosted its stake in Sanmina Corporation by 94.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 224,687 shares of the electronics maker’s stock worth $8,560,000 after buying an additional 108,990 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Sanmina Corporation in the 2nd quarter worth about $3,810,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total value of $372,100.00. Following the transaction, the vice president now directly owns 180,000 shares of the company’s stock, valued at approximately $6,697,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.96% of the company’s stock.
SANM has been the topic of a number of research analyst reports. ValuEngine raised Sanmina Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Zacks Investment Research raised Sanmina Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Sanmina Corporation in a research note on Friday, September 1st. Finally, Argus lowered Sanmina Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Sanmina Corporation presently has an average rating of “Hold” and a consensus price target of $43.25.
Sanmina Corporation (NASDAQ:SANM) opened at $34.00 on Tuesday. The firm has a market capitalization of $2,573.96, a PE ratio of 12.79, a PEG ratio of 0.95 and a beta of 0.77. Sanmina Corporation has a 52 week low of $29.90 and a 52 week high of $42.95. The company has a quick ratio of 0.97, a current ratio of 1.62 and a debt-to-equity ratio of 0.24.
Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.12). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Sanmina Corporation had a net margin of 2.02% and a return on equity of 12.27%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. sell-side analysts anticipate that Sanmina Corporation will post 3 earnings per share for the current fiscal year.
Sanmina Corporation announced that its Board of Directors has approved a stock repurchase plan on Monday, September 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 77% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Sanmina Corporation Profile
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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