BlackRock Inc. trimmed its holdings in shares of Sanmina Corp (NASDAQ:SANM) by 10.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,384,315 shares of the electronics maker’s stock after selling 1,083,802 shares during the period. BlackRock Inc. owned approximately 0.13% of Sanmina worth $309,683,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in SANM. First Trust Advisors LP lifted its holdings in shares of Sanmina by 26.8% during the third quarter. First Trust Advisors LP now owns 161,452 shares of the electronics maker’s stock valued at $5,998,000 after purchasing an additional 34,081 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Sanmina during the third quarter valued at approximately $799,000. IndexIQ Advisors LLC lifted its holdings in shares of Sanmina by 83.1% during the third quarter. IndexIQ Advisors LLC now owns 21,348 shares of the electronics maker’s stock valued at $793,000 after purchasing an additional 9,690 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Sanmina by 2.2% during the third quarter. Swiss National Bank now owns 126,400 shares of the electronics maker’s stock valued at $4,696,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Lingohr & Partner Asset Management GmbH lifted its holdings in shares of Sanmina by 65.3% during the third quarter. Lingohr & Partner Asset Management GmbH now owns 32,900 shares of the electronics maker’s stock valued at $1,277,000 after purchasing an additional 13,000 shares during the last quarter. Hedge funds and other institutional investors own 91.73% of the company’s stock.
Several equities analysts have recently issued reports on SANM shares. Royal Bank of Canada lowered their target price on shares of Sanmina to $31.00 and set a “sector perform” rating for the company in a report on Monday, January 22nd. BidaskClub lowered shares of Sanmina from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded shares of Sanmina from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Craig Hallum upgraded shares of Sanmina from a “hold” rating to a “buy” rating in a report on Monday, December 18th. Finally, TheStreet lowered shares of Sanmina from a “b” rating to a “c+” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Sanmina has a consensus rating of “Hold” and a consensus price target of $37.25.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, January 29th. The electronics maker reported $0.48 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. Sanmina had a negative net margin of 0.88% and a positive return on equity of 11.61%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. research analysts forecast that Sanmina Corp will post 1.72 EPS for the current fiscal year.
In related news, Director Wayne Shortridge sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $27.01, for a total transaction of $135,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brent Billinger purchased 1,500 shares of Sanmina stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average cost of $26.33 per share, with a total value of $39,495.00. Following the transaction, the senior vice president now directly owns 18,004 shares of the company’s stock, valued at $474,045.32. The disclosure for this purchase can be found here. 5.12% of the stock is owned by company insiders.
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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