Sanmina Corp (SANM) Position Lowered by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA decreased its holdings in Sanmina Corp (NASDAQ:SANM) by 39.3% during the 1st quarter, HoldingsChannel reports. The fund owned 23,194 shares of the electronics maker’s stock after selling 15,020 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Sanmina were worth $607,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. First Mercantile Trust Co. acquired a new position in shares of Sanmina in the first quarter worth about $110,000. US Bancorp DE lifted its stake in shares of Sanmina by 67.8% in the fourth quarter. US Bancorp DE now owns 5,747 shares of the electronics maker’s stock worth $190,000 after acquiring an additional 2,322 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in Sanmina during the fourth quarter valued at approximately $214,000. JOYN Advisors Inc. acquired a new stake in Sanmina during the fourth quarter valued at approximately $215,000. Finally, Connable Office Inc. raised its stake in Sanmina by 19.2% during the first quarter. Connable Office Inc. now owns 11,106 shares of the electronics maker’s stock valued at $290,000 after buying an additional 1,788 shares in the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.

Get Sanmina alerts:

Several analysts have issued reports on the company. Citigroup upped their price objective on Sanmina from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, April 24th. ValuEngine cut Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, May 18th. BidaskClub cut Sanmina from a “buy” rating to a “hold” rating in a research note on Saturday, April 28th. Needham & Company LLC upped their price objective on Sanmina from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, April 24th. Finally, Zacks Investment Research upgraded Sanmina from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Sanmina has a consensus rating of “Hold” and an average target price of $35.25.

In other news, Director Wayne Shortridge sold 10,650 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $29.38, for a total transaction of $312,897.00. Following the completion of the transaction, the director now directly owns 68,685 shares of the company’s stock, valued at $2,017,965.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.12% of the stock is currently owned by corporate insiders.

Shares of Sanmina opened at $30.55 on Friday, according to MarketBeat. Sanmina Corp has a 52-week low of $24.60 and a 52-week high of $42.95. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 1.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.55.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, April 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. Sanmina had a positive return on equity of 10.99% and a negative net margin of 0.99%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. Sanmina’s revenue for the quarter was down .4% compared to the same quarter last year. equities research analysts predict that Sanmina Corp will post 1.76 EPS for the current fiscal year.

Sanmina Company Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. The company offers product design and engineering solutions, 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.

Want to see what other hedge funds are holding SANM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sanmina Corp (NASDAQ:SANM).

Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

Leave a Reply

Your email address will not be published. Required fields are marked *