Sanmina Corporation (SANM) Position Boosted by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can raised its stake in shares of Sanmina Corporation (NASDAQ:SANM) by 5.3% during the second quarter, Holdings Channel reports. The institutional investor owned 108,686 shares of the electronics maker’s stock after buying an additional 5,484 shares during the period. Great West Life Assurance Co. Can’s holdings in Sanmina Corporation were worth $4,135,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in SANM. LS Investment Advisors LLC raised its position in shares of Sanmina Corporation by 5.5% in the first quarter. LS Investment Advisors LLC now owns 3,360 shares of the electronics maker’s stock valued at $136,000 after buying an additional 176 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Sanmina Corporation during the first quarter valued at $209,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Sanmina Corporation during the second quarter valued at $203,000. Menta Capital LLC acquired a new position in shares of Sanmina Corporation during the first quarter valued at $219,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Sanmina Corporation by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.
Shares of Sanmina Corporation (NASDAQ:SANM) opened at 36.45 on Wednesday. Sanmina Corporation has a 1-year low of $26.00 and a 1-year high of $42.95. The firm’s 50-day moving average price is $38.04 and its 200 day moving average price is $38.59. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 13.31 and a beta of 0.78.
Sanmina Corporation (NASDAQ:SANM) last issued its quarterly earnings data on Monday, July 24th. The electronics maker reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.01. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that Sanmina Corporation will post $3.01 earnings per share for the current fiscal year.
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Several research firms have commented on SANM. ValuEngine upgraded Sanmina Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Royal Bank Of Canada cut their price objective on 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. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Bank of America Corporation reiterated a “buy” rating and set a $48.00 price objective on shares of Sanmina Corporation in a research note on Thursday, June 15th. Finally, Zacks Investment Research lowered Sanmina Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $42.80.
In other news, VP Robert K. Eulau sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $38.40, for a total transaction of $384,000.00. Following the completion of the transaction, the vice president now directly owns 200,000 shares of the company’s stock, valued at approximately $7,680,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.96% of the company’s stock.
About Sanmina Corporation
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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