Morgan Stanley Reduces Position in Sanmina Corp (NASDAQ:SANM)

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Morgan Stanley reduced its position in Sanmina Corp (NASDAQ:SANM) by 18.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 727,303 shares of the electronics maker’s stock after selling 166,028 shares during the quarter. Morgan Stanley owned 1.07% of Sanmina worth $19,841,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Needham Investment Management LLC bought a new stake in Sanmina in the first quarter worth about $546,000. Thrivent Financial for Lutherans raised its holdings in shares of Sanmina by 5.3% in the first quarter. Thrivent Financial for Lutherans now owns 58,647 shares of the electronics maker’s stock worth $1,600,000 after buying an additional 2,928 shares during the period. Eaton Vance Management bought a new stake in shares of Sanmina during the 1st quarter worth approximately $3,451,000. Wells Fargo & Company MN boosted its holdings in Sanmina by 2.4% during the 1st quarter. Wells Fargo & Company MN now owns 482,111 shares of the electronics maker’s stock valued at $13,152,000 after acquiring an additional 11,133 shares during the period. Finally, Geode Capital Management LLC grew its position in Sanmina by 4.4% in the 1st quarter. Geode Capital Management LLC now owns 1,031,015 shares of the electronics maker’s stock valued at $28,125,000 after acquiring an additional 43,599 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors.

In other Sanmina news, SVP Brent Billinger sold 922 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $27.35, for a total value of $25,216.70. Following the completion of the sale, the senior vice president now directly owns 18,742 shares in the company, valued at $512,593.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.73% of the company’s stock.

A number of analysts have recently issued reports on the stock. BidaskClub lowered shares of Sanmina from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 20th. ValuEngine cut shares of Sanmina from a “hold” rating to a “sell” rating in a research report on Thursday, May 21st. Cfra dropped their target price on shares of Sanmina from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, April 28th. Citigroup lifted their price target on shares of Sanmina from $22.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Zacks Investment Research cut Sanmina from a “hold” rating to a “sell” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company has an average rating of “Sell” and an average target price of $32.67.

Shares of NASDAQ SANM opened at $25.02 on Wednesday. Sanmina Corp has a 1-year low of $18.34 and a 1-year high of $34.96. The business has a fifty day moving average price of $26.19 and a 200 day moving average price of $28.46. The stock has a market capitalization of $1.63 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 1.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.58 and a quick ratio of 1.16.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, April 27th. The electronics maker reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.23). Sanmina had a return on equity of 10.40% and a net margin of 1.44%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Sanmina Corp will post 1.63 earnings per share for the current fiscal year.

Sanmina 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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