IndexIQ Advisors LLC cut its position in Sanmina Corp (NASDAQ:SANM) by 75.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,020 shares of the electronics maker’s stock after selling 21,095 shares during the quarter. IndexIQ Advisors LLC’s holdings in Sanmina were worth $192,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. First Trust Advisors LP bought a new stake in shares of Sanmina during the first quarter worth about $405,000. Nisa Investment Advisors LLC raised its holdings in Sanmina by 147.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 840 shares of the electronics maker’s stock valued at $29,000 after buying an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sanmina by 31.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,596 shares of the electronics maker’s stock worth $192,000 after buying an additional 1,346 shares during the period. California Public Employees Retirement System grew its holdings in Sanmina by 11.6% during the 4th quarter. California Public Employees Retirement System now owns 243,014 shares of the electronics maker’s stock worth $8,321,000 after acquiring an additional 25,163 shares during the last quarter. Finally, Sadoff Investment Management LLC increased its position in Sanmina by 0.6% in the 4th quarter. Sadoff Investment Management LLC now owns 925,737 shares of the electronics maker’s stock valued at $31,697,000 after acquiring an additional 5,950 shares during the period. Hedge funds and other institutional investors own 97.09% of the company’s stock.
Several brokerages recently weighed in on SANM. Zacks Investment Research cut shares of Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, May 8th. BidaskClub lowered Sanmina from a “hold” rating to a “sell” rating in a research report on Friday, April 17th. Cfra lowered their price objective on Sanmina from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, April 28th. ValuEngine lowered Sanmina from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Citigroup increased their target price on shares of Sanmina from $22.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock presently has an average rating of “Sell” and an average price target of $32.67.
Shares of Sanmina stock opened at $26.42 on Friday. The business has a 50-day moving average price of $26.35 and a two-hundred day moving average price of $29.58. Sanmina Corp has a 1-year low of $18.34 and a 1-year high of $34.96. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.80 billion, a P/E ratio of 11.24, a PEG ratio of 1.35 and a beta of 0.96.
Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, April 27th. The electronics maker reported $0.32 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.23). The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $1.64 billion. Sanmina had a net margin of 1.44% and a return on equity of 10.40%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. Equities research analysts forecast that Sanmina Corp will post 1.63 EPS for the current fiscal year.
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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