Wellington Management Group LLP trimmed its holdings in shares of Sanmina Corp (NASDAQ:SANM) by 7.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 12,864 shares of the electronics maker’s stock after selling 1,019 shares during the quarter. Wellington Management Group LLP’s holdings in Sanmina were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Synovus Financial Corp acquired a new stake in Sanmina during the 1st quarter valued at approximately $29,000. Nisa Investment Advisors LLC lifted its position in Sanmina by 67.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,410 shares of the electronics maker’s stock valued at $38,000 after buying an additional 570 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Sanmina in the fourth quarter valued at about $54,000. Mutual of America Capital Management LLC lifted its position in shares of Sanmina by 24.6% during the first quarter. Mutual of America Capital Management LLC now owns 3,083 shares of the electronics maker’s stock worth $84,000 after purchasing an additional 609 shares in the last quarter. Finally, First Bank & Trust lifted its position in shares of Sanmina by 60.9% during the first quarter. First Bank & Trust now owns 3,312 shares of the electronics maker’s stock worth $90,000 after purchasing an additional 1,254 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.
Shares of SANM stock opened at $25.02 on Wednesday. Sanmina Corp has a fifty-two week low of $18.34 and a fifty-two week high of $34.96. The stock has a market cap of $1.63 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.22 and a beta of 0.93. The business has a fifty day simple moving average of $26.19 and a 200-day simple moving average of $28.46. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.21.
Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, April 27th. The electronics maker reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.23). The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Sanmina had a return on equity of 10.40% and a net margin of 1.44%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. On average, sell-side analysts anticipate that Sanmina Corp will post 1.63 earnings per share for the current year.
Several equities analysts have commented on the stock. Cfra dropped their price target on shares of Sanmina from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, April 28th. ValuEngine downgraded Sanmina from a “hold” rating to a “sell” rating in a report on Thursday, May 21st. Zacks Investment Research downgraded Sanmina from a “hold” rating to a “sell” rating in a report on Friday, May 8th. BidaskClub downgraded Sanmina from a “sell” rating to a “strong sell” rating in a report on Saturday, June 20th. Finally, Citigroup increased their price target on Sanmina from $22.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company has an average rating of “Sell” and a consensus price target of $32.67.
In other Sanmina news, SVP Brent Billinger sold 922 shares of Sanmina stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $27.35, for a total value of $25,216.70. Following the completion of the sale, the senior vice president now owns 18,742 shares in the company, valued at approximately $512,593.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.73% of the company’s stock.
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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