Verition Fund Management LLC reduced its stake in shares of Sanmina Corp (NASDAQ:SANM) by 13.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,230 shares of the electronics maker’s stock after selling 2,186 shares during the quarter. Verition Fund Management LLC’s holdings in Sanmina were worth $393,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SANM. Man Group plc bought a new position in shares of Sanmina during the 3rd quarter valued at approximately $1,020,000. Sadoff Investment Management LLC boosted its position in shares of Sanmina by 2.4% during the 3rd quarter. Sadoff Investment Management LLC now owns 927,942 shares of the electronics maker’s stock valued at $25,611,000 after acquiring an additional 21,905 shares during the last quarter. Earnest Partners LLC lifted its position in Sanmina by 0.6% in the third quarter. Earnest Partners LLC now owns 3,013,974 shares of the electronics maker’s stock worth $83,186,000 after buying an additional 17,034 shares during the last quarter. Paloma Partners Management Co lifted its position in Sanmina by 22.3% in the third quarter. Paloma Partners Management Co now owns 14,060 shares of the electronics maker’s stock worth $388,000 after buying an additional 2,560 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Sanmina by 8.1% in the third quarter. Deutsche Bank AG now owns 761,253 shares of the electronics maker’s stock worth $21,008,000 after buying an additional 57,274 shares during the last quarter. 91.66% of the stock is currently owned by institutional investors and hedge funds.
In other Sanmina news, CFO David Robert Anderson sold 14,595 shares of Sanmina stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $26.02, for a total value of $379,761.90. Following the transaction, the chief financial officer now owns 39,000 shares in the company, valued at $1,014,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.12% of the stock is owned by insiders.
Shares of Sanmina stock traded up $0.18 during trading on Friday, hitting $25.62. 260,567 shares of the stock traded hands, compared to its average volume of 363,146. The firm has a market cap of $1.72 billion, a P/E ratio of 13.92 and a beta of 0.78. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 0.01. Sanmina Corp has a 52-week low of $22.30 and a 52-week high of $35.55.
Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, October 29th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.85 billion. Sanmina had a positive return on equity of 10.25% and a negative net margin of 1.28%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share.
SANM has been the subject of a number of analyst reports. BidaskClub downgraded Sanmina from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. ValuEngine downgraded Sanmina from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Finally, Citigroup downgraded Sanmina from a “buy” rating to a “neutral” rating in a research report on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Sanmina presently has an average rating of “Hold” and a consensus target price of $35.75.
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Sanmina Corp. engages in the provision of integrated manufacturing solutions, components, products and repair, logistics, and after-market services. It operates through the Integrated Manufacturing Solutions (IMS); and Components, Products, and Services (CPS) segments. The IMS segment consists of printed circuit board assembly and test, final system assembly and test, and direct-order-fulfillment.
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