Rothschild & Co. Asset Management US Inc. Increases Position in Sanmina Corp (SANM)
Rothschild & Co. Asset Management US Inc. boosted its position in shares of Sanmina Corp (NASDAQ:SANM) by 9.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 561,931 shares of the electronics maker’s stock after buying an additional 49,356 shares during the period. Rothschild & Co. Asset Management US Inc.’s holdings in Sanmina were worth $16,212,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Sanmina in the 4th quarter valued at approximately $24,725,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Sanmina in the 4th quarter valued at approximately $26,000. D. E. Shaw & Co. Inc. lifted its stake in shares of Sanmina by 44.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 968,915 shares of the electronics maker’s stock valued at $23,312,000 after purchasing an additional 296,937 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Sanmina by 3.0% in the 4th quarter. BlackRock Inc. now owns 10,042,631 shares of the electronics maker’s stock valued at $241,626,000 after purchasing an additional 293,968 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Sanmina by 100.1% in the 3rd quarter. Morgan Stanley now owns 497,079 shares of the electronics maker’s stock valued at $13,719,000 after purchasing an additional 248,655 shares during the last quarter. 91.73% of the stock is owned by institutional investors.
In related news, insider Jure Sola sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $33.47, for a total transaction of $10,041,000.00. Following the completion of the sale, the insider now directly owns 867,401 shares of the company’s stock, valued at approximately $29,031,911.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alan Mcwilliams Reid sold 9,845 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $33.46, for a total value of $329,413.70. Following the sale, the executive vice president now directly owns 57,077 shares of the company’s stock, valued at $1,909,796.42. The disclosure for this sale can be found here. Insiders have sold a total of 312,607 shares of company stock valued at $10,457,251 over the last three months. 5.55% of the stock is owned by corporate insiders.
Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, April 29th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.17. Sanmina had a return on equity of 13.48% and a net margin of 1.48%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the company earned $0.50 EPS. Sanmina’s quarterly revenue was up 26.9% compared to the same quarter last year. On average, analysts anticipate that Sanmina Corp will post 3.02 earnings per share for the current fiscal year.
Several research firms have recently issued reports on SANM. BidaskClub lowered Sanmina from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research raised Sanmina from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, May 15th. Royal Bank of Canada raised their price objective on Sanmina to $33.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 29th. Finally, TheStreet raised Sanmina from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $34.00.
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Sanmina Company Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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