Chicago Equity Partners LLC Sells 32,225 Shares of Sanmina Corporation (SANM)
Chicago Equity Partners LLC cut its position in shares of Sanmina Corporation (NASDAQ:SANM) by 42.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,340 shares of the electronics maker’s stock after selling 32,225 shares during the quarter. Chicago Equity Partners LLC owned approximately 0.06% of Sanmina Corporation worth $1,610,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. LS Investment Advisors LLC grew its holdings in Sanmina Corporation by 4.1% in the second quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock valued at $133,000 after purchasing an additional 138 shares during the period. Riverhead Capital Management LLC grew its holdings in Sanmina Corporation by 70.7% in the second quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after purchasing an additional 1,627 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Sanmina Corporation in the second quarter valued at approximately $203,000. Nisa Investment Advisors LLC grew its holdings in 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 purchasing an additional 200 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Sanmina Corporation in the second quarter valued at approximately $212,000. Institutional investors and hedge funds own 90.77% of the company’s stock.
Sanmina Corporation (SANM) opened at $34.00 on Tuesday. The firm has a market cap of $2,573.96, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.95 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.62. Sanmina Corporation has a 12-month low of $29.90 and a 12-month high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last announced its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.12). The business had revenue of $1.76 billion for 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 company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. equities research analysts predict that Sanmina Corporation will post 3 EPS for the current year.
Sanmina Corporation declared that its board has approved a share repurchase program on Monday, September 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 77% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
SANM has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Sanmina Corporation from a “hold” rating to a “strong sell” rating in a report on Friday, July 28th. ValuEngine upgraded shares of Sanmina Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Royal Bank Of Canada restated a “hold” rating and issued a $40.00 target price on shares of Sanmina Corporation in a 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 report on Wednesday, October 4th. Finally, Bank of America Corporation cut shares of Sanmina Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $43.25.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $37.21, for a total transaction of $372,100.00. Following the transaction, the vice president now directly owns 180,000 shares of the company’s stock, valued at $6,697,800. The sale was disclosed in a filing with the SEC, which is available at this link. 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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