Acrospire Investment Management LLC Reduces Stake in Sanmina Corp. (SANM)
Acrospire Investment Management LLC cut its position in Sanmina Corp. (NASDAQ:SANM) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,900 shares of the company’s stock after selling 600 shares during the period. Acrospire Investment Management LLC’s holdings in Sanmina Corp. were worth $105,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of SANM. BlackRock Inc. increased its stake in Sanmina Corp. by 42.0% in the first quarter. BlackRock Inc. now owns 8,223 shares of the company’s stock worth $193,000 after buying an additional 2,432 shares during the period. Connable Office Inc. acquired a new stake in Sanmina Corp. during the first quarter worth $216,000. Squarepoint Ops LLC acquired a new stake in Sanmina Corp. during the first quarter worth $217,000. Envestnet Asset Management Inc. increased its stake in Sanmina Corp. by 28.5% in the first quarter. Envestnet Asset Management Inc. now owns 10,214 shares of the company’s stock worth $239,000 after buying an additional 2,264 shares during the period. Finally, SECOR Capital Advisors LP acquired a new stake in Sanmina Corp. during the second quarter worth $242,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.
Shares of Sanmina Corp. (NASDAQ:SANM) traded up 0.75% during midday trading on Wednesday, hitting $28.16. 76,016 shares of the stock traded hands. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 5.60 and a beta of 1.52. Sanmina Corp. has a 52-week low of $16.31 and a 52-week high of $29.17. The stock has a 50-day moving average of $26.58 and a 200-day moving average of $25.41.
Sanmina Corp. (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.63. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.66 billion. Sanmina Corp. had a net margin of 6.24% and a return on equity of 11.53%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. On average, equities analysts predict that Sanmina Corp. will post $2.50 earnings per share for the current fiscal year.
Several equities analysts recently commented on SANM shares. B. Riley reiterated a “buy” rating and set a $31.00 price target on shares of Sanmina Corp. in a report on Tuesday, July 26th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price target (up from $27.00) on shares of Sanmina Corp. in a report on Tuesday, May 31st. Zacks Investment Research upgraded shares of Sanmina Corp. from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Friday, May 27th. Argus reiterated a “buy” rating and set a $33.00 price target on shares of Sanmina Corp. in a report on Thursday, July 28th. Finally, Craig Hallum downgraded shares of Sanmina Corp. from a “buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a report on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $27.30.
In related news, Director Wayne Shortridge sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $26.05, for a total transaction of $104,200.00. Following the sale, the director now directly owns 68,428 shares of the company’s stock, valued at approximately $1,782,549.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Jure Sola sold 58,531 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $26.25, for a total transaction of $1,536,438.75. Following the sale, the chairman now directly owns 392,686 shares in the company, valued at $10,308,007.50. The disclosure for this sale can be found here. 4.59% of the stock is currently owned by insiders.
About Sanmina Corp.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries.
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