Central Bank & Trust Co. Reduces Holdings in Sanmina Corp (SANM)
Central Bank & Trust Co. reduced its position in Sanmina Corp (NASDAQ:SANM) by 52.4% in the 4th quarter, HoldingsChannel reports. The fund owned 47,535 shares of the electronics maker’s stock after selling 52,360 shares during the quarter. Central Bank & Trust Co.’s holdings in Sanmina were worth $1,569,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC grew its position in Sanmina by 70.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after acquiring an additional 1,627 shares in the last quarter. Advisory Services Network LLC acquired a new position in Sanmina in the 2nd quarter valued at about $212,000. ETRADE Capital Management LLC acquired a new position in Sanmina in the 3rd quarter valued at about $228,000. BlueCrest Capital Management Ltd acquired a new position in shares of Sanmina during the second quarter worth about $229,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Sanmina during the third quarter worth about $267,000. 92.53% of the stock is owned by institutional investors.
A number of brokerages have recently commented on SANM. Zacks Investment Research raised Sanmina from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. ValuEngine downgraded Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Argus downgraded Sanmina from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. BidaskClub downgraded Sanmina from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Bank of America downgraded Sanmina from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $44.33.
Shares of Sanmina Corp (SANM) traded down $0.20 during trading on Tuesday, hitting $34.15. The stock had a trading volume of 456,468 shares, compared to its average volume of 632,450. Sanmina Corp has a 1-year low of $29.95 and a 1-year high of $42.95. The firm has a market capitalization of $2,470.00, a P/E ratio of 19.19, a PEG ratio of 0.96 and a beta of 0.79. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.62.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.12). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Sanmina had a return on equity of 12.27% and a net margin of 2.02%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. analysts forecast that Sanmina Corp will post 3 EPS for the current year.
Sanmina announced that its board has authorized a stock repurchase program on Monday, September 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the electronics maker to reacquire up to 77% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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