Sanmina Corporation (SANM) Shares Sold by Cambria Investment Management L.P.
Cambria Investment Management L.P. lowered its position in shares of Sanmina Corporation (NASDAQ:SANM) by 11.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,736 shares of the electronics maker’s stock after selling 6,360 shares during the quarter. Cambria Investment Management L.P. owned about 0.06% of Sanmina Corporation worth $1,857,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. LS Investment Advisors LLC grew its holdings in Sanmina Corporation by 4.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock worth $133,000 after acquiring an additional 138 shares during the period. Riverhead Capital Management LLC raised its position in shares of Sanmina Corporation by 70.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock worth $150,000 after acquiring an additional 1,627 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Sanmina Corporation in the 2nd quarter worth about $203,000. Nisa Investment Advisors LLC raised its position in shares of Sanmina Corporation by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock worth $207,000 after acquiring an additional 200 shares in the last quarter. Finally, Menta Capital LLC acquired a new position in shares of Sanmina Corporation in the 1st quarter valued at about $219,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.
Sanmina Corporation (SANM) traded up 0.581% during midday trading on Wednesday, hitting $38.975. The stock had a trading volume of 54,916 shares. Sanmina Corporation has a 12 month low of $26.70 and a 12 month high of $42.95. The firm’s 50-day moving average price is $36.77 and its 200 day moving average price is $37.84. The company has a market cap of $2.94 billion, a P/E ratio of 14.235 and a beta of 0.79.
Sanmina Corporation (NASDAQ:SANM) last released its earnings results on Monday, July 24th. The electronics maker reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. On average, analysts expect that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.
Sanmina Corporation announced that its board has authorized a share buyback program on Monday, September 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 77% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total value of $372,100.00. Following the completion of the transaction, the vice president now owns 180,000 shares in the company, valued at $6,697,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.96% of the stock is owned by corporate insiders.
SANM has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. ValuEngine upgraded shares of Sanmina Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Bank of America Corporation restated a “buy” rating and issued a $48.00 price target on shares of Sanmina Corporation in a report on Thursday, June 15th. Royal Bank Of Canada decreased their price target on shares of Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Sanmina Corporation currently has an average rating of “Buy” and an average target price of $42.80.
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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