Teacher Retirement System of Texas boosted its position in shares of Sanmina Corp. (NASDAQ:SANM) by 13.9% during the second quarter, Holdings Channel reports. The fund owned 10,907 shares of the company’s stock after buying an additional 1,330 shares during the period. Teacher Retirement System of Texas’ holdings in Sanmina Corp. were worth $292,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new stake in shares of Sanmina Corp. during the first quarter worth approximately $105,000. BlackRock Inc. raised its stake in shares of Sanmina Corp. by 42.0% in the first quarter. BlackRock Inc. now owns 8,223 shares of the company’s stock worth $193,000 after buying an additional 2,432 shares during the last quarter. SECOR Capital Advisors LP purchased a new stake in shares of Sanmina Corp. during the second quarter worth approximately $242,000. Fox Run Management L.L.C. purchased a new stake in shares of Sanmina Corp. during the second quarter worth approximately $287,000. Finally, HBK Investments L P purchased a new stake in shares of Sanmina Corp. during the first quarter worth approximately $276,000. 93.58% of the stock is owned by institutional investors and hedge funds.
Sanmina Corp. (NASDAQ:SANM) opened at 27.65 on Friday. The stock has a market cap of $2.04 billion, a P/E ratio of 5.50 and a beta of 1.46. The stock has a 50 day moving average price of $27.73 and a 200-day moving average price of $26.16. Sanmina Corp. has a 52 week low of $16.31 and a 52 week high of $29.70.
Sanmina Corp. (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 25th. The company reported $0.63 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.63. Sanmina Corp. had a net margin of 6.24% and a return on equity of 11.53%. The company earned $1.67 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. Sanmina Corp.’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that Sanmina Corp. will post $2.50 EPS for the current fiscal year.
A number of analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $31.00 target price on shares of Sanmina Corp. in a research report on Tuesday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 target price on shares of Sanmina Corp. in a research report on Thursday, July 28th. Craig Hallum lowered Sanmina Corp. from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a research report on Tuesday, July 26th. Argus reaffirmed a “buy” rating and issued a $33.00 target price on shares of Sanmina Corp. in a research report on Thursday, July 28th. Finally, Zacks Investment Research downgraded Sanmina Corp. from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Sanmina Corp. presently has a consensus rating of “Hold” and an average target price of $27.30.
In related news, Director John Goldsberry sold 13,178 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $26.59, for a total value of $350,403.02. Following the completion of the transaction, the director now directly owns 29,505 shares of the company’s stock, valued at $784,537.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alan Mcwilliams Reid sold 10,000 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $26.45, for a total transaction of $264,500.00. Following the completion of the transaction, the executive vice president now directly owns 10,184 shares of the company’s stock, valued at $269,366.80. The disclosure for this sale can be found here. 4.59% of the stock is currently owned by corporate insiders.
About Sanmina Corp.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in the communications networks, computing and storage, multimedia, industrial and semiconductor capital equipment, defense and aerospace, medical, clean technology (CleanTech) and automotive industries.
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