United Services Automobile Association Invests $499,000 in Sanmina Corporation (SANM)

United Services Automobile Association purchased a new position in Sanmina Corporation (NASDAQ:SANM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,300 shares of the electronics maker’s stock, valued at approximately $499,000.

Other institutional investors have also bought and sold shares of the company. Elkfork Partners LLC acquired a new position in Sanmina Corporation during the fourth quarter worth approximately $115,000. LS Investment Advisors LLC boosted its position in Sanmina Corporation by 5.5% in the first quarter. LS Investment Advisors LLC now owns 3,360 shares of the electronics maker’s stock worth $136,000 after buying an additional 176 shares during the period. Trexquant Investment LP acquired a new position in Sanmina Corporation during the fourth quarter worth approximately $204,000. Everence Capital Management Inc. acquired a new position in Sanmina Corporation during the first quarter worth approximately $209,000. Finally, Affinity Investment Advisors LLC acquired a new position in Sanmina Corporation during the first quarter worth approximately $250,000. 94.09% of the stock is owned by institutional investors.

Sanmina Corporation (SANM) opened at 41.65 on Friday. The firm has a 50-day moving average price of $38.75 and a 200-day moving average price of $38.46. Sanmina Corporation has a one year low of $23.50 and a one year high of $41.80. The firm has a market cap of $3.15 billion, a PE ratio of 15.64 and a beta of 0.79.

Sanmina Corporation (NASDAQ:SANM) last released its quarterly earnings results on Monday, April 24th. The electronics maker reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. Sanmina Corporation had a return on equity of 11.81% and a net margin of 3.07%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts expect that Sanmina Corporation will post $3.05 EPS for the current fiscal year.

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A number of equities analysts have recently commented on the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $42.00 price target (up previously from $39.00) on shares of Sanmina Corporation in a report on Tuesday, April 25th. Bank of America Corporation reaffirmed a “buy” rating and issued a $48.00 target price on shares of Sanmina Corporation in a report on Thursday, June 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Sanmina Corporation in a report on Tuesday, April 25th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $39.71.

In other Sanmina Corporation news, VP Robert K. Eulau sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $37.97, for a total transaction of $379,700.00. Following the sale, the vice president now owns 210,000 shares in the company, valued at $7,973,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 30,000 shares of company stock worth $1,134,700 in the last 90 days. Company insiders own 4.96% of the company’s stock.

Sanmina Corporation Company Profile

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

Institutional Ownership by Quarter for Sanmina Corporation (NASDAQ:SANM)

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