Schroder Investment Management Group reduced its stake in shares of Sanmina Corp (NASDAQ:SANM) by 62.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,432 shares of the electronics maker’s stock after selling 27,560 shares during the quarter. Schroder Investment Management Group’s holdings in Sanmina were worth $622,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC grew its holdings in shares of Sanmina by 70.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock worth $150,000 after purchasing an additional 1,627 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Sanmina during the 2nd quarter worth $212,000. ETRADE Capital Management LLC acquired a new stake in shares of Sanmina during the 3rd quarter worth $228,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Sanmina during the 2nd quarter worth $229,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Sanmina during the 3rd quarter worth $267,000. 92.60% of the stock is currently owned by institutional investors.
Shares of Sanmina Corp (SANM) opened at $30.55 on Friday. The firm has a market capitalization of $2,203.84, a PE ratio of 11.46, a P/E/G ratio of 0.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.62 and a quick ratio of 0.97. Sanmina Corp has a 12 month low of $29.95 and a 12 month high of $42.95.
Sanmina declared that its board has approved a stock 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 repurchase up to 77% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
SANM has been the topic of several analyst reports. BidaskClub lowered 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 issued a $45.00 price objective on shares of Sanmina in a research note on Wednesday, October 4th. ValuEngine lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research raised Sanmina from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Sanmina in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $44.33.
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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