Hanseatic Management Services Inc. Trims Position in Sanmina Corporation (SANM)
Hanseatic Management Services Inc. reduced its position in Sanmina Corporation (NASDAQ:SANM) by 38.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,921 shares of the electronics maker’s stock after selling 3,733 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Sanmina Corporation were worth $220,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of SANM. LS Investment Advisors LLC lifted its holdings in shares of Sanmina Corporation by 4.1% during the second quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock valued at $133,000 after acquiring an additional 138 shares during the period. Riverhead Capital Management LLC raised its holdings in shares of 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 buying an additional 1,627 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Sanmina Corporation in the second quarter valued at about $203,000. Nisa Investment Advisors LLC raised its holdings 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 during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Sanmina Corporation in the second quarter valued at about $212,000. 90.77% of the stock is owned by hedge funds and other institutional investors.
SANM has been the subject of a number of research analyst reports. Royal Bank Of Canada cut their price target on Sanmina Corporation from $42.00 to $40.00 and set a “sector perform” rating for the company in a report on Tuesday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sanmina Corporation in a report on Tuesday, July 25th. ValuEngine raised Sanmina Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research cut Sanmina Corporation from a “hold” rating to a “strong sell” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.25.
Shares of Sanmina Corporation (SANM) traded up $0.40 during mid-day trading on Friday, reaching $33.65. The company had a trading volume of 765,700 shares, compared to its average volume of 548,470. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.62. The firm has a market capitalization of $2,410.00, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77. Sanmina Corporation has a 1 year low of $30.81 and a 1 year high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last announced its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.12). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Sanmina Corporation had a return on equity of 12.27% and a net margin of 2.02%. Sanmina Corporation’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. analysts expect that Sanmina Corporation will post 3 EPS for the current year.
Sanmina Corporation declared that its board has initiated a stock buyback program on Monday, September 18th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the electronics maker to purchase up to 77% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, VP Robert K. Eulau sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total transaction of $372,100.00. Following the completion of the transaction, the vice president now directly owns 180,000 shares in the company, valued at approximately $6,697,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.96% of the stock is currently owned by insiders.
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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