Dimensional Fund Advisors LP trimmed its stake in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 12.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,395,025 shares of the electronics maker's stock after selling 494,207 shares during the period. Dimensional Fund Advisors LP owned about 6.35% of Sanmina worth $258,631,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its position in Sanmina by 200.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 405 shares of the electronics maker's stock worth $31,000 after acquiring an additional 270 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sanmina during the fourth quarter worth $90,000. Meeder Asset Management Inc. bought a new position in Sanmina in the first quarter valued at $90,000. CWM LLC grew its position in Sanmina by 26.1% in the first quarter. CWM LLC now owns 1,466 shares of the electronics maker's stock valued at $112,000 after purchasing an additional 303 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in Sanmina by 843.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock worth $131,000 after buying an additional 1,543 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.
Sanmina Stock Up 0.2%
Sanmina stock opened at $116.98 on Monday. The firm has a market capitalization of $6.23 billion, a PE ratio of 25.05, a P/E/G ratio of 1.71 and a beta of 1.14. The company's 50-day moving average is $102.87 and its 200-day moving average is $88.36. Sanmina Corporation has a fifty-two week low of $62.76 and a fifty-two week high of $125.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21.
Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.11. The business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.98 billion. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. Sanmina's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. Sell-side analysts anticipate that Sanmina Corporation will post 5.15 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Bank of America raised their price objective on Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Wall Street Zen downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th.
Get Our Latest Research Report on SANM
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.
Further Reading
Want to see what other hedge funds are holding SANM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sanmina Corporation (NASDAQ:SANM - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Sanmina, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sanmina wasn't on the list.
While Sanmina currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access