Sanmina Corporation (NASDAQ:SANM) Stake Boosted by Bessemer Group Inc.
Bessemer Group Inc. boosted its position in Sanmina Corporation (NASDAQ:SANM) by 5.6% during the second quarter, Holdings Channel reports. The firm owned 60,800 shares of the electronics maker’s stock after buying an additional 3,200 shares during the period. Bessemer Group Inc.’s holdings in Sanmina Corporation were worth $2,316,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. LS Investment Advisors LLC increased its stake in Sanmina Corporation by 4.1% in the second quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock worth $133,000 after buying an additional 138 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Sanmina Corporation during the second quarter worth approximately $203,000. Nisa Investment Advisors LLC increased its stake in Sanmina Corporation by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock worth $207,000 after buying an additional 200 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Sanmina Corporation during the first quarter worth approximately $209,000. Finally, Menta Capital LLC bought a new stake in Sanmina Corporation during the first quarter worth approximately $219,000. Institutional investors and hedge funds own 94.35% of the company’s stock.
Shares of Sanmina Corporation (NASDAQ SANM) opened at 36.05 on Thursday. Sanmina Corporation has a one year low of $26.00 and a one year high of $42.95. The firm has a 50 day moving average of $38.35 and a 200 day moving average of $38.56. The stock has a market cap of $2.72 billion, a P/E ratio of 13.17 and a beta of 0.78.
Sanmina Corporation (NASDAQ:SANM) last posted its earnings results on Monday, July 24th. The electronics maker reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.01. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. Sanmina Corporation’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. On average, equities research analysts predict that Sanmina Corporation will post $3.01 EPS for the current fiscal year.
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SANM has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Sanmina Corporation from a “hold” rating to a “strong sell” rating in a report on Friday, July 28th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Sanmina Corporation in a report on Tuesday, April 25th. Bank of America Corporation reissued a “buy” rating and set a $48.00 price objective on shares of Sanmina Corporation in a report on Thursday, June 15th. Royal Bank Of Canada reissued a “sector perform” rating and set a $42.00 price objective (up previously from $39.00) on shares of Sanmina Corporation in a report on Tuesday, April 25th. Finally, ValuEngine raised shares of Sanmina Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.80.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $38.40, for a total value of $384,000.00. Following the completion of the sale, the vice president now directly owns 200,000 shares in the company, valued at $7,680,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.96% of the stock is owned by insiders.
About Sanmina Corporation
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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