Empowered Funds LLC Sells 9,997 Shares of Sanmina Co. (NASDAQ:SANM)

Empowered Funds LLC cut its stake in Sanmina Co. (NASDAQ:SANM) by 19.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,633 shares of the electronics maker’s stock after selling 9,997 shares during the quarter. Empowered Funds LLC owned approximately 0.08% of Sanmina worth $2,850,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Sanmina by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker’s stock valued at $444,876,000 after buying an additional 45,918 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Sanmina by 8.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker’s stock valued at $77,399,000 after purchasing an additional 86,492 shares during the period. American Century Companies Inc. boosted its holdings in Sanmina by 14.0% in the 2nd quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker’s stock valued at $57,977,000 after purchasing an additional 107,474 shares during the period. Bank of New York Mellon Corp grew its position in shares of Sanmina by 11.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker’s stock worth $38,323,000 after purchasing an additional 59,849 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Sanmina by 0.9% during the third quarter. Victory Capital Management Inc. now owns 406,994 shares of the electronics maker’s stock worth $27,859,000 after purchasing an additional 3,591 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SANM shares. Craig Hallum increased their price target on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. StockNews.com raised Sanmina from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th.

Sanmina Trading Down 0.2 %

Shares of SANM stock opened at $76.94 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 2.05. Sanmina Co. has a fifty-two week low of $48.83 and a fifty-two week high of $86.05. The company has a market cap of $4.20 billion, a PE ratio of 19.68, a P/E/G ratio of 1.30 and a beta of 0.89. The stock’s fifty day moving average price is $70.25 and its two-hundred day moving average price is $68.79.

Sanmina (NASDAQ:SANM) last issued its earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Sanmina Co. will post 4.84 EPS for the current fiscal year.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.