Dimensional Fund Advisors LP reduced its holdings in shares of Sanmina Corporation (NASDAQ:SANM) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,264,781 shares of the electronics maker’s stock after selling 82,269 shares during the quarter. Dimensional Fund Advisors LP owned 8.31% of Sanmina worth $232,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Riverhead Capital Management LLC lifted its holdings in shares of Sanmina by 70.7% during 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 in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Sanmina by 3.8% during 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 in the last quarter. Advisory Services Network LLC bought a new position in shares of Sanmina during the second quarter valued at $212,000. BlueCrest Capital Management Ltd bought a new position in shares of Sanmina during the second quarter valued at $229,000. Finally, ETRADE Capital Management LLC bought a new position in shares of Sanmina during the third quarter valued at $228,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.
SANM has been the topic of a number of research analyst reports. BidaskClub downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Sanmina in a report on Wednesday, October 4th. ValuEngine downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded Sanmina from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $40.00 price objective on shares of Sanmina in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Sanmina presently has an average rating of “Hold” and a consensus target price of $44.33.
Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.12). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Sanmina had a net margin of 2.02% and a return on equity of 12.27%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. equities analysts forecast that Sanmina Corporation will post 3 EPS for the current year.
Sanmina announced that its board has approved a share repurchase plan on Monday, September 18th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the electronics maker to reacquire up to 77% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
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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