Janus Henderson Group PLC trimmed its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 78.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,358 shares of the electronics maker's stock after selling 94,066 shares during the quarter. Janus Henderson Group PLC's holdings in Sanmina were worth $1,918,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. FORA Capital LLC acquired a new position in shares of Sanmina in the 4th quarter valued at $264,000. Frontier Capital Management Co. LLC increased its holdings in shares of Sanmina by 9.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker's stock valued at $76,060,000 after acquiring an additional 90,627 shares during the period. Deutsche Bank AG increased its holdings in shares of Sanmina by 57.1% in the 4th quarter. Deutsche Bank AG now owns 49,373 shares of the electronics maker's stock valued at $3,736,000 after acquiring an additional 17,936 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Sanmina in the 4th quarter valued at $250,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Sanmina in the 4th quarter valued at $1,473,000. 92.71% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently weighed in on SANM. Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Bank of America upgraded shares of Sanmina from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th.
Check Out Our Latest Research Report on Sanmina
Sanmina Stock Performance
NASDAQ:SANM traded up $2.41 during midday trading on Tuesday, reaching $86.61. The stock had a trading volume of 595,055 shares, compared to its average volume of 398,529. The firm has a fifty day simple moving average of $78.40 and a two-hundred day simple moving average of $79.73. Sanmina Co. has a 12-month low of $61.52 and a 12-month high of $91.12. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The stock has a market cap of $4.63 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.29 and a beta of 1.10.
Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. Sanmina's quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $1.30 EPS. On average, equities analysts expect that Sanmina Co. will post 5.15 EPS for the current year.
Sanmina announced that its Board of Directors has approved a stock repurchase program on Monday, January 27th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.
Sanmina Company Profile
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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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