Nationwide Fund Advisors lowered its stake in shares of Sanmina Corp (NASDAQ:SANM) by 62.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,951 shares of the electronics maker’s stock after selling 215,184 shares during the period. Nationwide Fund Advisors owned about 0.17% of Sanmina worth $4,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SANM. Victory Capital Management Inc. raised its position in Sanmina by 281.3% during the second quarter. Victory Capital Management Inc. now owns 381,105 shares of the electronics maker’s stock worth $14,520,000 after acquiring an additional 281,166 shares during the last quarter. Westpac Banking Corp acquired a new position in Sanmina during the second quarter worth about $6,046,000. Robeco Institutional Asset Management B.V. raised its position in Sanmina by 94.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 224,687 shares of the electronics maker’s stock worth $8,560,000 after acquiring an additional 108,990 shares during the last quarter. Balyasny Asset Management LLC raised its position in Sanmina by 930.0% during the second quarter. Balyasny Asset Management LLC now owns 110,000 shares of the electronics maker’s stock worth $4,191,000 after acquiring an additional 99,320 shares during the last quarter. Finally, LSV Asset Management raised its position in Sanmina by 2.5% during the second quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock worth $142,169,000 after acquiring an additional 91,300 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

Sanmina Corp (NASDAQ SANM) opened at $30.60 on Friday. 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 firm has a market cap of $2,240.00, a P/E ratio of 11.61, a PEG ratio of 0.86 and a beta of 0.78. Sanmina Corp has a 52-week low of $30.40 and a 52-week high of $42.95.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data 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 firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Sanmina had a net margin of 2.02% and a return on equity of 12.27%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. analysts forecast that Sanmina Corp will post 3 EPS for the current year.

Sanmina declared that its board has authorized a share repurchase plan on Monday, September 18th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the electronics maker to reacquire up to 77% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of equities analysts have issued reports on the stock. Bank of America cut shares of Sanmina from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 31st. ValuEngine upgraded shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a research report on Friday, September 8th. Royal Bank of Canada restated a “hold” rating and set a $40.00 target price on shares of Sanmina in a research report on Friday, September 1st. Finally, Argus cut shares of Sanmina from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.33.

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Sanmina Company 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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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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