Comerica Bank Increases Position in Sanmina Corp (SANM)

Comerica Bank boosted its position in shares of Sanmina Corp (NASDAQ:SANM) by 37.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,101 shares of the electronics maker’s stock after buying an additional 25,553 shares during the quarter. Comerica Bank’s holdings in Sanmina were worth $2,909,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Investors Research Corp bought a new position in Sanmina during the first quarter valued at about $61,000. Quadrant Capital Group LLC boosted its stake in Sanmina by 639.2% during the first quarter. Quadrant Capital Group LLC now owns 2,166 shares of the electronics maker’s stock valued at $59,000 after buying an additional 1,873 shares in the last quarter. Advisor Group Inc. boosted its stake in Sanmina by 27.3% during the fourth quarter. Advisor Group Inc. now owns 3,358 shares of the electronics maker’s stock valued at $80,000 after buying an additional 721 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sanmina by 19.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,655 shares of the electronics maker’s stock valued at $112,000 after buying an additional 754 shares in the last quarter. Finally, NumerixS Investment Technologies Inc boosted its stake in Sanmina by 87.9% during the fourth quarter. NumerixS Investment Technologies Inc now owns 4,697 shares of the electronics maker’s stock valued at $112,000 after buying an additional 2,197 shares in the last quarter. 91.50% of the stock is owned by institutional investors and hedge funds.

NASDAQ:SANM opened at $29.52 on Wednesday. Sanmina Corp has a 1-year low of $22.30 and a 1-year high of $34.71. The firm has a market capitalization of $2.02 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.82 and a beta of 1.12.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, April 29th. The electronics maker reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.17. Sanmina had a return on equity of 13.48% and a net margin of 1.48%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the company posted $0.50 EPS. Sanmina’s revenue for the quarter was up 26.9% on a year-over-year basis. Research analysts expect that Sanmina Corp will post 3.02 earnings per share for the current fiscal year.

In related news, SVP Brent Billinger sold 2,762 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $31.44, for a total value of $86,837.28. Following the completion of the transaction, the senior vice president now owns 22,377 shares in the company, valued at approximately $703,532.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jure Sola sold 300,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $33.47, for a total value of $10,041,000.00. Following the completion of the transaction, the insider now owns 867,401 shares of the company’s stock, valued at approximately $29,031,911.47. The disclosure for this sale can be found here. Insiders sold a total of 336,566 shares of company stock valued at $11,232,424 in the last quarter. 5.55% of the stock is currently owned by corporate insiders.

Several brokerages recently weighed in on SANM. Zacks Investment Research raised Sanmina from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, May 15th. BidaskClub cut Sanmina from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Royal Bank of Canada raised their target price on Sanmina to $33.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 29th. Finally, TheStreet raised Sanmina from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.00.

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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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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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