Sanmina Corporation (NASDAQ:SANM) Shares Sold by Paloma Partners Management Co
Paloma Partners Management Co cut its stake in shares of Sanmina Corporation (NASDAQ:SANM) by 70.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,206 shares of the electronics maker’s stock after selling 34,323 shares during the period. Paloma Partners Management Co’s holdings in Sanmina Corporation were worth $577,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of Sanmina Corporation by 20,899.1% in the first quarter. BlackRock Inc. now owns 11,067,786 shares of the electronics maker’s stock valued at $449,352,000 after buying an additional 11,015,080 shares during the last quarter. Norges Bank acquired a new position in shares of Sanmina Corporation during the fourth quarter valued at about $40,906,000. Vanguard Group Inc. raised its position in shares of Sanmina Corporation by 8.2% in the first quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock valued at $293,059,000 after buying an additional 548,729 shares during the last quarter. Bank of America Corp DE raised its position in shares of Sanmina Corporation by 98.2% in the first quarter. Bank of America Corp DE now owns 758,708 shares of the electronics maker’s stock valued at $30,804,000 after buying an additional 375,871 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Sanmina Corporation by 29.4% in the first quarter. Bank of New York Mellon Corp now owns 1,218,908 shares of the electronics maker’s stock valued at $49,487,000 after buying an additional 276,942 shares during the last quarter. Institutional investors own 94.09% of the company’s stock.
Shares of Sanmina Corporation (SANM) opened at 40.30 on Monday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 15.13 and a beta of 0.79. The company’s 50-day moving average price is $37.60 and its 200-day moving average price is $38.13. Sanmina Corporation has a 12 month low of $23.50 and a 12 month high of $41.25.
Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings results on Monday, April 24th. The electronics maker reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. Sanmina Corporation had a return on equity of 11.81% and a net margin of 3.07%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts anticipate that Sanmina Corporation will post $3.05 EPS for the current year.
Several equities analysts have recently issued reports on SANM shares. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Sanmina Corporation in a research note on Tuesday, April 25th. Bank of America Corporation reiterated a “buy” rating and issued a $48.00 price target on shares of Sanmina Corporation in a research note on Thursday, June 15th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $42.00 price target (up previously from $39.00) on shares of Sanmina Corporation in a research note on Tuesday, April 25th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $39.71.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $37.97, for a total transaction of $379,700.00. Following the sale, the vice president now owns 210,000 shares in the company, valued at $7,973,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 30,000 shares of company stock worth $1,134,700 in the last 90 days. Company 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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