Axa increased its position in shares of Sanmina Corp (NASDAQ:SANM) by 10.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,900 shares of the electronics maker’s stock after purchasing an additional 19,700 shares during the quarter. Axa owned approximately 0.28% of Sanmina worth $7,426,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in Sanmina by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,347,050 shares of the electronics maker’s stock valued at $241,823,000 after buying an additional 65,223 shares in the last quarter. LSV Asset Management grew its holdings in Sanmina by 2.5% in the 2nd quarter. LSV Asset Management now owns 3,731,489 shares of the electronics maker’s stock valued at $142,169,000 after buying an additional 91,300 shares in the last quarter. State Street Corp grew its holdings in Sanmina by 3.6% in the 2nd quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock valued at $73,977,000 after buying an additional 67,853 shares in the last quarter. Earnest Partners LLC grew its holdings in Sanmina by 1.6% in the 2nd quarter. Earnest Partners LLC now owns 1,735,490 shares of the electronics maker’s stock valued at $66,122,000 after buying an additional 26,667 shares in the last quarter. Finally, Ardevora Asset Management LLP grew its holdings in Sanmina by 7.9% in the 3rd quarter. Ardevora Asset Management LLP now owns 1,027,000 shares of the electronics maker’s stock valued at $38,153,000 after buying an additional 75,400 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.
Several analysts have issued reports on SANM shares. Zacks Investment Research cut Sanmina from a “hold” rating to a “strong sell” rating in a report on Friday, November 3rd. ValuEngine upgraded Sanmina from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Royal Bank of Canada restated a “hold” rating and issued a $40.00 target price on shares of Sanmina in a report on Friday, September 1st. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Sanmina in a report on Wednesday, October 4th. Finally, Bank of America cut Sanmina from a “buy” rating to a “neutral” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Sanmina presently has an average rating of “Hold” and a consensus target price of $44.33.
Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.12). The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Sanmina had a return on equity of 12.27% and a net margin of 2.02%. The business’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 company posted $0.72 earnings per share. research analysts predict that Sanmina Corp will post 3 earnings per share for the current year.
Sanmina declared that its board has authorized a share repurchase program on Monday, September 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the electronics maker to purchase up to 77% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.
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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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