Peregrine Capital Management LLC Purchases 2,432 Shares of Sanmina Corp (NASDAQ:SANM)

Peregrine Capital Management LLC grew its position in Sanmina Corp (NASDAQ:SANM) by 1.4% during the second quarter, HoldingsChannel.com reports. The fund owned 170,763 shares of the electronics maker’s stock after acquiring an additional 2,432 shares during the quarter. Peregrine Capital Management LLC’s holdings in Sanmina were worth $4,276,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in Sanmina by 11.9% in the 1st quarter. State Street Corp now owns 2,395,480 shares of the electronics maker’s stock worth $65,349,000 after acquiring an additional 254,200 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Sanmina by 48.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,230,820 shares of the electronics maker’s stock worth $33,576,000 after acquiring an additional 398,987 shares during the last quarter. Norges Bank bought a new stake in Sanmina in the 4th quarter worth approximately $37,322,000. Geode Capital Management LLC increased its stake 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 worth $28,125,000 after acquiring an additional 43,599 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in Sanmina by 2.9% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,027,885 shares of the electronics maker’s stock worth $28,041,000 after acquiring an additional 28,600 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Brent Billinger sold 922 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $27.35, for a total transaction of $25,216.70. Following the completion of the transaction, the senior vice president now owns 18,742 shares in the company, valued at approximately $512,593.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.73% of the stock is owned by insiders.

SANM opened at $29.68 on Friday. The business has a fifty day moving average of $25.27 and a 200 day moving average of $27.13. Sanmina Corp has a 52-week low of $18.34 and a 52-week high of $34.96. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.02 billion, a P/E ratio of 19.66, a PEG ratio of 1.52 and a beta of 0.90.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Wednesday, July 29th. The electronics maker reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.62. Sanmina had a return on equity of 10.35% and a net margin of 1.55%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business earned $0.82 EPS. Sanmina’s revenue was down 18.3% compared to the same quarter last year. Equities analysts anticipate that Sanmina Corp will post 2.39 EPS for the current fiscal year.

A number of equities analysts have recently commented on SANM shares. ValuEngine cut Sanmina from a “hold” rating to a “sell” rating in a report on Thursday, May 21st. BidaskClub upgraded Sanmina from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 15th. Craig Hallum lifted their target price on Sanmina from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday. Cfra dropped their target price on Sanmina from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, April 28th. Finally, Zacks Investment Research upgraded Sanmina from a “strong sell” rating to a “hold” rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Sanmina has a consensus rating of “Hold” and an average target price of $35.25.

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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