KBC Group NV lowered its stake in shares of Sanmina Corp (NASDAQ:SANM) by 18.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,185 shares of the electronics maker’s stock after selling 16,744 shares during the quarter. KBC Group NV owned approximately 0.11% of Sanmina worth $2,216,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in SANM. BlackRock Inc. grew its position in shares of Sanmina by 5.3% during the first quarter. BlackRock Inc. now owns 10,575,697 shares of the electronics maker’s stock worth $305,110,000 after buying an additional 533,066 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Sanmina in the second quarter worth $2,378,000. IndexIQ Advisors LLC acquired a new position in Sanmina in the first quarter worth $1,580,000. DekaBank Deutsche Girozentrale boosted its holdings in Sanmina by 34.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 194,800 shares of the electronics maker’s stock worth $5,703,000 after purchasing an additional 49,900 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. boosted its holdings in Sanmina by 9.6% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 561,931 shares of the electronics maker’s stock worth $16,212,000 after purchasing an additional 49,356 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.
In other Sanmina news, SVP Brent Billinger sold 931 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $30.12, for a total value of $28,041.72. Following the sale, the senior vice president now directly owns 20,877 shares in the company, valued at $628,815.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.55% of the company’s stock.
Sanmina stock traded down $0.25 during mid-day trading on Thursday, reaching $32.45. The company’s stock had a trading volume of 131,288 shares, compared to its average volume of 412,858. The company has a current ratio of 1.64, a quick ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.90 and a beta of 1.37. Sanmina Corp has a twelve month low of $22.30 and a twelve month high of $34.71. The business has a 50 day moving average price of $30.38 and a 200-day moving average price of $30.33.
Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, July 29th. The electronics maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Sanmina had a return on equity of 13.98% and a net margin of 1.55%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. On average, equities analysts expect that Sanmina Corp will post 2.98 EPS for the current fiscal year.
SANM has been the subject of a number of research reports. BidaskClub raised shares of Sanmina from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Zacks Investment Research downgraded shares of Sanmina from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Sanmina currently has a consensus rating of “Hold” and a consensus price target of $33.00.
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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