BlackRock Inc. grew its position in shares of Sanmina Corp (NASDAQ:SANM) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,575,697 shares of the electronics maker’s stock after buying an additional 533,066 shares during the period. BlackRock Inc. owned about 15.33% of Sanmina worth $305,110,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System increased its position in shares of Sanmina by 0.4% during the 1st quarter. Arizona State Retirement System now owns 105,563 shares of the electronics maker’s stock valued at $3,045,000 after purchasing an additional 436 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Sanmina by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 26,439 shares of the electronics maker’s stock valued at $763,000 after buying an additional 478 shares in the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Sanmina by 3.7% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 16,304 shares of the electronics maker’s stock valued at $392,000 after buying an additional 578 shares in the last quarter. Comerica Bank increased its stake in shares of Sanmina by 1.1% in the fourth quarter. Comerica Bank now owns 67,548 shares of the electronics maker’s stock worth $2,151,000 after purchasing an additional 720 shares during the period. Finally, Advisor Group Inc. increased its stake in shares of Sanmina by 27.3% in the fourth quarter. Advisor Group Inc. now owns 3,358 shares of the electronics maker’s stock worth $80,000 after purchasing an additional 721 shares during the period. 92.72% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on SANM shares. BidaskClub lowered Sanmina from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. TheStreet upgraded shares of Sanmina from a “c+” rating to a “b-” rating in a research report on Tuesday, April 30th. Finally, Zacks Investment Research upgraded shares of Sanmina from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $34.00.
Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, April 29th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.17. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a net margin of 1.48% and a return on equity of 13.48%. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. On average, analysts anticipate that Sanmina Corp will post 3.02 EPS for the current year.
In other Sanmina news, insider Jure Sola sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $33.47, for a total value of $10,041,000.00. Following the sale, the insider now owns 867,401 shares in the company, valued at $29,031,911.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brent Billinger sold 2,762 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $31.44, for a total transaction of $86,837.28. Following the completion of the sale, the senior vice president now owns 22,377 shares in the company, valued at approximately $703,532.88. The disclosure for this sale can be found here. Insiders sold 312,607 shares of company stock worth $10,457,251 in the last 90 days. Company insiders own 5.55% of the company’s stock.
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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