Foundry Partners LLC Has $18.23 Million Stake in Sanmina Corporation (SANM)
Foundry Partners LLC increased its stake in Sanmina Corporation (NASDAQ:SANM) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 478,386 shares of the electronics maker’s stock after buying an additional 35,869 shares during the period. Sanmina Corporation accounts for approximately 0.7% of Foundry Partners LLC’s holdings, making the stock its 17th largest position. Foundry Partners LLC’s holdings in Sanmina Corporation were worth $18,227,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Globeflex Capital L P bought a new position in shares of Sanmina Corporation during the first quarter valued at approximately $401,000. Comerica Bank increased its position in shares of Sanmina Corporation by 5.8% in the first quarter. Comerica Bank now owns 83,320 shares of the electronics maker’s stock valued at $3,212,000 after buying an additional 4,539 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Sanmina Corporation by 2.1% in the first quarter. Wells Fargo & Company MN now owns 531,561 shares of the electronics maker’s stock valued at $21,580,000 after buying an additional 10,862 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Sanmina Corporation by 67.5% in the first quarter. Nationwide Fund Advisors now owns 410,962 shares of the electronics maker’s stock valued at $16,685,000 after buying an additional 165,658 shares in the last quarter. Finally, Regentatlantic Capital LLC bought a new position in shares of Sanmina Corporation during the first quarter valued at approximately $322,000. Institutional investors and hedge funds own 94.35% of the company’s stock.
Shares of Sanmina Corporation (NASDAQ:SANM) opened at 35.50 on Friday. The stock has a market cap of $2.68 billion, a PE ratio of 12.97 and a beta of 0.78. The firm has a 50 day moving average price of $38.28 and a 200 day moving average price of $38.54. Sanmina Corporation has a 12-month low of $26.00 and a 12-month high of $42.95.
Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings data on Monday, July 24th. The electronics maker reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by $0.01. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. Sanmina Corporation had a return on equity of 12.35% and a net margin of 3.15%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. On average, equities analysts expect that Sanmina Corporation will post $3.01 EPS for the current year.
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SANM has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Sanmina Corporation in a research note on Tuesday, April 25th. ValuEngine upgraded Sanmina Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “sector perform” rating and issued a $42.00 target price (up previously from $39.00) on shares of Sanmina Corporation in a research note on Tuesday, April 25th. Bank of America Corporation restated a “buy” rating and issued a $48.00 target price on shares of Sanmina Corporation in a research note on Thursday, June 15th. Finally, Zacks Investment Research downgraded Sanmina Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $42.80.
In other news, VP Robert K. Eulau sold 10,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $38.40, for a total value of $384,000.00. Following the completion of the transaction, the vice president now owns 200,000 shares of the company’s stock, valued at $7,680,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.96% of the company’s stock.
Sanmina Corporation Company Profile
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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