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.
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