Barings LLC maintained its position in Sanmina Corporation (NASDAQ:SANM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,200 shares of the electronics maker’s stock at the end of the second quarter. Barings LLC’s holdings in Sanmina Corporation were worth $942,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Balyasny Asset Management LLC grew its stake in Sanmina Corporation by 930.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 110,000 shares of the electronics maker’s stock worth $4,191,000 after buying an additional 99,320 shares in the last quarter. Stifel Financial Corp grew its stake in Sanmina Corporation by 3.3% in the 2nd quarter. Stifel Financial Corp now owns 7,658 shares of the electronics maker’s stock worth $291,000 after buying an additional 246 shares in the last quarter. Voya Investment Management LLC grew its stake in Sanmina Corporation by 8.2% in the 2nd quarter. Voya Investment Management LLC now owns 111,366 shares of the electronics maker’s stock worth $4,243,000 after buying an additional 8,413 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Sanmina Corporation by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock worth $241,823,000 after buying an additional 65,223 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Sanmina Corporation by 0.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 437,733 shares of the electronics maker’s stock worth $16,678,000 after buying an additional 2,431 shares in the last quarter. 92.75% of the stock is owned by institutional investors and hedge funds.
Sanmina Corporation (NASDAQ:SANM) last posted its earnings results 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). Sanmina Corporation had a net margin of 3.15% and a return on equity of 12.35%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year.
Sanmina Corporation declared that its board has authorized a share repurchase plan on Monday, September 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the electronics maker to purchase up to 77% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
A number of equities analysts have commented on SANM shares. Bank of America Corporation reissued a “buy” rating and issued a $48.00 price target on shares of Sanmina Corporation in a research note on Thursday, June 15th. ValuEngine raised shares of Sanmina Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Sanmina Corporation in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Sanmina Corporation in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $43.25.
In related news, VP Robert K. Eulau sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $37.21, for a total value of $372,100.00. Following the completion of the transaction, the vice president now directly owns 180,000 shares of the company’s stock, valued at $6,697,800. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.96% of the company’s stock.
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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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