Mesirow Financial Investment Management Equity Management Trims Position in Sanmina Corporation (SANM)

Mesirow Financial Investment Management Equity Management lowered its stake in shares of Sanmina Corporation (NASDAQ:SANM) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 386,565 shares of the electronics maker’s stock after selling 17,255 shares during the quarter. Mesirow Financial Investment Management Equity Management owned approximately 0.51% of Sanmina Corporation worth $14,361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Affinity Investment Advisors LLC grew its position in Sanmina Corporation by 0.5% during the second quarter. Affinity Investment Advisors LLC now owns 6,196 shares of the electronics maker’s stock valued at $236,000 after buying an additional 31 shares during the period. Hanseatic Management Services Inc. boosted its position in Sanmina Corporation by 1.2% during the second quarter. Hanseatic Management Services Inc. now owns 9,654 shares of the electronics maker’s stock worth $368,000 after purchasing an additional 116 shares during the period. LS Investment Advisors LLC boosted its position in Sanmina Corporation by 4.1% during the second quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock worth $133,000 after purchasing an additional 138 shares during the period. Amalgamated Bank boosted its position in Sanmina Corporation by 1.6% during the second quarter. Amalgamated Bank now owns 10,104 shares of the electronics maker’s stock worth $385,000 after purchasing an additional 158 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Sanmina Corporation by 3.8% during the second quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock worth $207,000 after purchasing an additional 200 shares during the period. Institutional investors own 91.51% of the company’s stock.

Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.12). The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Sanmina Corporation had a net margin of 2.02% and a return on equity of 12.27%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share.

Sanmina Corporation announced that its board has authorized a stock buyback plan on Monday, September 18th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 77% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

A number of equities analysts have weighed in on the stock. Argus lowered shares of Sanmina Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America Corporation lowered shares of Sanmina Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of Sanmina Corporation in a research report on Wednesday, October 4th. ValuEngine lowered shares of Sanmina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of Sanmina Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $43.25.

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In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was 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 in the company, valued at approximately $6,697,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.96% of the company’s stock.

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.

Institutional Ownership by Quarter for Sanmina Corporation (NASDAQ:SANM)

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