Schroder Investment Management Group Purchases 19,492 Shares of Sanmina Corporation (SANM)
Schroder Investment Management Group increased its position in shares of Sanmina Corporation (NASDAQ:SANM) by 79.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,992 shares of the electronics maker’s stock after buying an additional 19,492 shares during the quarter. Schroder Investment Management Group owned 0.06% of Sanmina Corporation worth $1,669,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in SANM. LS Investment Advisors LLC grew its position in Sanmina Corporation by 4.1% during the second quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock worth $133,000 after buying an additional 138 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Sanmina Corporation during the second quarter worth about $203,000. Nisa Investment Advisors LLC grew its position in Sanmina Corporation by 3.8% during the second quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock worth $207,000 after buying an additional 200 shares in the last quarter. Menta Capital LLC acquired a new stake in Sanmina Corporation during the first quarter worth about $219,000. Finally, Affinity Investment Advisors LLC grew its position in Sanmina Corporation by 0.5% during the second quarter. Affinity Investment Advisors LLC now owns 6,196 shares of the electronics maker’s stock worth $236,000 after buying an additional 31 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.
Sanmina Corporation (SANM) opened at 37.30 on Friday. Sanmina Corporation has a 52 week low of $26.70 and a 52 week high of $42.95. The firm’s 50-day moving average is $36.38 and its 200-day moving average is $37.99. The company has a market cap of $2.81 billion, a PE ratio of 13.62 and a beta of 0.78.
Sanmina Corporation (NASDAQ:SANM) last announced its earnings results on Monday, July 24th. The electronics maker reported $0.74 earnings per share (EPS) 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 analyst estimates of $1.74 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that Sanmina Corporation will post $3.01 EPS for the current fiscal year.
Sanmina Corporation declared that its Board of Directors has initiated a share buyback program on Monday, September 18th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the electronics maker to buy up to 77% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
A number of research firms recently weighed in on SANM. Royal Bank Of Canada decreased their target price on Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 25th. ValuEngine raised Sanmina Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Sanmina Corporation in a research report on Tuesday, July 25th. Zacks Investment Research raised Sanmina Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Finally, Bank of America Corporation reissued a “buy” rating and set a $48.00 target price on shares of Sanmina Corporation in a research report on Thursday, June 15th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $42.80.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $36.95, for a total transaction of $369,500.00. Following the transaction, the vice president now owns 190,000 shares in the company, valued at approximately $7,020,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 30,000 shares of company stock worth $1,125,600. Company insiders own 4.96% of the company’s stock.
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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