Cubist Systematic Strategies LLC Buys 6,531 Shares of Sanmina Corp (SANM)

Cubist Systematic Strategies LLC boosted its holdings in shares of Sanmina Corp (NASDAQ:SANM) by 78.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,900 shares of the electronics maker’s stock after purchasing an additional 6,531 shares during the period. Cubist Systematic Strategies LLC’s holdings in Sanmina were worth $554,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Chicago Equity Partners LLC increased its holdings in Sanmina by 30.1% during the 2nd quarter. Chicago Equity Partners LLC now owns 75,565 shares of the electronics maker’s stock valued at $2,879,000 after purchasing an additional 17,490 shares in the last quarter. State Street Corp increased its stake in shares of 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 during the period. Martingale Asset Management L P increased its stake in shares of Sanmina by 6.7% in the 2nd quarter. Martingale Asset Management L P now owns 203,968 shares of the electronics maker’s stock valued at $7,772,000 after buying an additional 12,814 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Sanmina in the 2nd quarter valued at $625,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Sanmina by 94.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 224,687 shares of the electronics maker’s stock valued at $8,560,000 after buying an additional 108,990 shares during the period. 92.53% of the stock is owned by hedge funds and other institutional investors.

Shares of Sanmina Corp (NASDAQ SANM) opened at $32.75 on Thursday. The company has a market capitalization of $2,360.00, a price-to-earnings ratio of 18.40, a PEG ratio of 0.92 and a beta of 0.78. Sanmina Corp has a 52 week low of $29.95 and a 52 week high of $42.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.62 and a quick ratio of 0.97.

Sanmina (NASDAQ:SANM) last released its earnings results on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.12). Sanmina had a net margin of 2.02% and a return on equity of 12.27%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. sell-side analysts predict that Sanmina Corp will post 3 earnings per share for the current fiscal year.

Sanmina declared that its board has initiated a stock buyback program on Monday, September 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 77% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Several equities research analysts have recently commented on SANM shares. BidaskClub cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Sanmina in a research note on Wednesday, October 4th. ValuEngine cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Craig Hallum raised Sanmina from a “hold” rating to a “buy” rating in a research note on Monday, December 18th. Finally, Zacks Investment Research raised Sanmina from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $44.33.

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Sanmina 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.

Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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