Ameriprise Financial Inc. cut its holdings in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,186 shares of the electronics maker's stock after selling 10,085 shares during the period. Ameriprise Financial Inc. owned approximately 0.31% of Sanmina worth $12,878,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC increased its holdings in shares of Sanmina by 14.2% in the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock valued at $148,239,000 after buying an additional 243,258 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Sanmina by 39.6% during the 4th quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock valued at $139,407,000 after acquiring an additional 522,534 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Sanmina by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker's stock valued at $116,277,000 after acquiring an additional 21,239 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Sanmina by 1.8% during the 4th quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker's stock valued at $81,256,000 after acquiring an additional 19,144 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Sanmina by 8.1% in the 4th quarter. Northern Trust Corp now owns 799,430 shares of the electronics maker's stock valued at $60,493,000 after purchasing an additional 59,878 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Bank of America raised shares of Sanmina from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $58.00 to $92.00 in a research report on Wednesday, January 29th. Wall Street Zen raised shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday.
View Our Latest Analysis on SANM
Sanmina Stock Down 0.3%
Shares of SANM stock traded down $0.25 during trading hours on Friday, hitting $84.20. 412,782 shares of the company were exchanged, compared to its average volume of 397,739. The business has a 50 day moving average of $78.11 and a two-hundred day moving average of $79.70. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. Sanmina Co. has a 52 week low of $61.52 and a 52 week high of $91.12. The company has a market capitalization of $4.50 billion, a PE ratio of 20.59, a PEG ratio of 1.29 and a beta of 1.10.
Sanmina (NASDAQ:SANM - Get Free Report) last released its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.03. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts anticipate that Sanmina Co. will post 5.15 earnings per share for the current fiscal year.
Sanmina declared that its Board of Directors has approved a stock repurchase plan on Monday, January 27th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
About Sanmina
(
Free Report)
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.
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