American International Group Inc. increased its position in Sanmina Corporation (NASDAQ:SANM) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,669 shares of the electronics maker’s stock after buying an additional 3,149 shares during the quarter. American International Group Inc. owned 0.08% of Sanmina worth $2,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Chicago Equity Partners LLC lifted its position in Sanmina by 30.1% in the 2nd quarter. Chicago Equity Partners LLC now owns 75,565 shares of the electronics maker’s stock worth $2,879,000 after buying an additional 17,490 shares during the last quarter. State Street Corp increased its stake in Sanmina by 3.6% in the 2nd quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock worth $73,977,000 after purchasing an additional 67,853 shares during the period. Martingale Asset Management L P increased its stake in Sanmina by 6.7% in the 2nd quarter. Martingale Asset Management L P now owns 203,968 shares of the electronics maker’s stock worth $7,772,000 after purchasing an additional 12,814 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Sanmina in the 2nd quarter worth approximately $625,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Sanmina by 94.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 224,687 shares of the electronics maker’s stock worth $8,560,000 after purchasing an additional 108,990 shares during the period. Institutional investors own 92.60% of the company’s stock.

Sanmina Corporation (SANM) opened at $30.95 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.62 and a quick ratio of 0.97. The company has a market capitalization of $2,229.05, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.86 and a beta of 0.78. Sanmina Corporation has a 12 month low of $30.80 and a 12 month high of $42.95.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.12). Sanmina had a net margin of 2.02% and a return on equity of 12.27%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the firm posted $0.72 earnings per share. Sanmina’s quarterly revenue was up 5.4% on a year-over-year basis. equities analysts predict that Sanmina Corporation will post 3 earnings per share for the current fiscal year.

Sanmina declared that its board has initiated a stock buyback plan on Monday, September 18th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 77% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

A number of brokerages have commented on SANM. BidaskClub cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Zacks Investment Research cut Sanmina from a “hold” rating to a “strong sell” rating in a research note on Friday, November 3rd. Argus cut Sanmina from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Bank of America cut Sanmina from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Sanmina in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Sanmina presently has a consensus rating of “Hold” and a consensus price target of $44.33.

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About Sanmina

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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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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