Foundry Partners LLC increased its position in shares of Sanmina Corporation (NASDAQ:SANM) by 7.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 514,457 shares of the electronics maker’s stock after acquiring an additional 36,071 shares during the period. Sanmina Corporation comprises about 0.8% of Foundry Partners LLC’s portfolio, making the stock its 14th biggest position. Foundry Partners LLC owned about 0.68% of Sanmina Corporation worth $19,112,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of SANM. Vanguard Group Inc. grew its position in Sanmina Corporation by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 7,218,202 shares of the electronics maker’s stock worth $293,059,000 after acquiring an additional 548,729 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Sanmina Corporation by 5.3% in the 1st quarter. Renaissance Technologies LLC now owns 204,733 shares of the electronics maker’s stock valued at $8,312,000 after buying an additional 10,300 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Sanmina Corporation by 5.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 424,016 shares of the electronics maker’s stock valued at $17,216,000 after buying an additional 20,224 shares during the last quarter. State Street Corp grew its position in shares of Sanmina Corporation by 1.9% in the 1st quarter. State Street Corp now owns 1,873,742 shares of the electronics maker’s stock valued at $76,073,000 after buying an additional 35,137 shares during the last quarter. Finally, Credit Suisse AG grew its position in shares of Sanmina Corporation by 36.5% in the 1st quarter. Credit Suisse AG now owns 156,273 shares of the electronics maker’s stock valued at $6,344,000 after buying an additional 41,827 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.
In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 180,000 shares in the company, valued at $6,697,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.96% of the company’s stock.
SANM has been the topic of a number of analyst reports. ValuEngine upgraded Sanmina Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Sanmina Corporation in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Sanmina Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank Of Canada reiterated a “hold” rating and issued a $40.00 price target on shares of Sanmina Corporation in a research report on Friday, September 1st. Finally, Argus lowered Sanmina Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.25.
Sanmina Corporation (NASDAQ:SANM) last posted its earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.12). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Sanmina Corporation had a return on equity of 12.27% and a net margin of 2.02%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share.
Sanmina Corporation announced that its Board of Directors has approved a stock buyback program on Monday, September 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 77% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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Sanmina Corporation 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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