MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sanmina Co. (NASDAQ:SANM – Free Report) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,581 shares of the electronics maker’s stock after buying an additional 1,153 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Sanmina worth $2,314,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new position in Sanmina in the fourth quarter valued at approximately $58,000. Principal Securities Inc. raised its position in shares of Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock valued at $105,000 after acquiring an additional 166 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Sanmina by 283.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock valued at $108,000 after purchasing an additional 1,056 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Sanmina by 843.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker’s stock valued at $131,000 after purchasing an additional 1,543 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Sanmina by 6.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker’s stock worth $166,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 92.71% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on SANM shares. StockNews.com lowered Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Bank of America upgraded shares of Sanmina from an “underperform” rating to a “neutral” rating and increased their price target for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th.
Sanmina Price Performance
Shares of SANM stock opened at $82.11 on Thursday. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. Sanmina Co. has a 12-month low of $61.52 and a 12-month high of $91.12. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average of $77.79 and a 200-day moving average of $79.58.
Sanmina (NASDAQ:SANM – Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Sanmina Co. will post 5.15 earnings per share for the current year.
Sanmina declared that its Board of Directors has authorized a share buyback program on Monday, January 27th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the electronics maker to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Insiders Place Their Bets
In other news, Director Mario M. Rosati sold 11,391 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $86.02, for a total value of $979,853.82. Following the completion of the transaction, the director now owns 80,295 shares in the company, valued at $6,906,975.90. This represents a 12.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.22% of the company’s stock.
Sanmina Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.
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