United Services Automobile Association increased its stake in Sanmina Corp (NASDAQ:SANM) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,440 shares of the electronics maker’s stock after purchasing an additional 6,400 shares during the quarter. United Services Automobile Association owned 0.15% of Sanmina worth $2,441,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of SANM. Oregon Public Employees Retirement Fund purchased a new stake in Sanmina in the fourth quarter worth approximately $26,000. Matarin Capital Management LLC purchased a new stake in Sanmina in the third quarter worth approximately $14,771,000. Rothschild & Co. Asset Management US Inc. boosted its holdings in Sanmina by 402.2% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 512,575 shares of the electronics maker’s stock worth $12,333,000 after purchasing an additional 410,505 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Sanmina by 14.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,824,874 shares of the electronics maker’s stock worth $77,967,000 after acquiring an additional 357,108 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Sanmina by 3.0% during the 4th quarter. BlackRock Inc. now owns 10,042,631 shares of the electronics maker’s stock worth $241,626,000 after acquiring an additional 293,968 shares during the last quarter. Institutional investors own 93.05% of the company’s stock.
In other Sanmina news, CFO David Robert Anderson sold 14,167 shares of Sanmina stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $31.89, for a total value of $451,785.63. Following the completion of the transaction, the chief financial officer now directly owns 92,000 shares of the company’s stock, valued at approximately $2,933,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brent Billinger sold 1,500 shares of Sanmina stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $32.79, for a total transaction of $49,185.00. Following the completion of the transaction, the senior vice president now directly owns 25,139 shares of the company’s stock, valued at $824,307.81. The disclosure for this sale can be found here. Insiders sold a total of 238,126 shares of company stock valued at $7,654,959 over the last three months. Corporate insiders own 5.55% of the company’s stock.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, January 28th. The electronics maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $1.90 billion. Sanmina had a net margin of 1.35% and a return on equity of 11.86%. Sanmina’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS.
Several research analysts have recently weighed in on SANM shares. BidaskClub cut shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Citigroup cut shares of Sanmina from a “buy” rating to a “neutral” rating in a research note on Thursday, December 20th. Finally, Royal Bank of Canada lifted their price target on shares of Sanmina to $33.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $36.00.
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Sanmina Company Profile
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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