Sanmina Corporation (SANM) Shares Bought by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans lifted its stake in shares of Sanmina Corporation (NASDAQ:SANM) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,700 shares of the electronics maker’s stock after buying an additional 3,930 shares during the quarter. Thrivent Financial For Lutherans owned about 0.06% of Sanmina Corporation worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Sanmina Corporation by 20,899.1% in the first quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock worth $449,352,000 after buying an additional 11,015,080 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in Sanmina Corporation in the second quarter worth about $36,256,000. Vanguard Group Inc. lifted its holdings in Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock worth $293,059,000 after buying an additional 548,729 shares during the period. Bank of America Corp DE lifted its holdings in Sanmina Corporation by 98.2% in the first quarter. Bank of America Corp DE now owns 758,708 shares of the electronics maker’s stock worth $30,804,000 after buying an additional 375,871 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Sanmina Corporation by 281.3% during the 2nd quarter. Victory Capital Management Inc. now owns 381,105 shares of the electronics maker’s stock valued at $14,520,000 after acquiring an additional 281,166 shares in the last quarter. Institutional investors own 92.76% of the company’s stock.
Several analysts have weighed in on the company. Zacks Investment Research raised Sanmina Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank Of Canada reissued a “hold” rating and issued a $40.00 target price on shares of Sanmina Corporation in a research report on Friday, September 1st. ValuEngine raised Sanmina Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Finally, Bank of America Corporation restated a “buy” rating and issued a $48.00 target price on shares of Sanmina Corporation in a research note 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 stock. Sanmina Corporation presently has an average rating of “Buy” and an average price target of $42.80.
In related 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 completion of the sale, the vice president now directly owns 180,000 shares in the company, valued at $6,697,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.96% of the company’s stock.
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Sanmina Corporation (SANM) opened at 37.15 on Monday. The stock has a market capitalization of $2.80 billion, a PE ratio of 13.57 and a beta of 0.79. The company’s 50-day moving average is $36.38 and its 200-day moving average is $37.99. Sanmina Corporation has a 12 month low of $26.70 and a 12 month high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last posted its quarterly earnings results on Monday, July 24th. The electronics maker reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $0.63 EPS. Sanmina Corporation’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Sanmina Corporation will post $3.01 EPS for the current year.
Sanmina Corporation announced that its board has approved a stock repurchase plan on Monday, September 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the electronics maker to buy up to 77% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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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