Everence Capital Management Inc. Acquires New Position in Sanmina Corp (SANM)

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Everence Capital Management Inc. acquired a new position in shares of Sanmina Corp (NASDAQ:SANM) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,760 shares of the electronics maker’s stock, valued at approximately $253,000.

A number of other institutional investors also recently added to or reduced their stakes in SANM. Morgan Stanley raised its stake in shares of Sanmina by 100.1% in the 3rd quarter. Morgan Stanley now owns 497,079 shares of the electronics maker’s stock valued at $13,719,000 after acquiring an additional 248,655 shares during the period. Vanguard Group Inc. raised its stake in shares of Sanmina by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,722,381 shares of the electronics maker’s stock valued at $185,538,000 after acquiring an additional 93,242 shares during the period. Peregrine Capital Management LLC raised its stake in shares of Sanmina by 49.9% in the 4th quarter. Peregrine Capital Management LLC now owns 315,102 shares of the electronics maker’s stock valued at $7,581,000 after acquiring an additional 104,876 shares during the period. Bank of Montreal Can raised its stake in shares of Sanmina by 2,408.7% in the 4th quarter. Bank of Montreal Can now owns 67,109 shares of the electronics maker’s stock valued at $1,615,000 after acquiring an additional 64,434 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sanmina by 19.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,655 shares of the electronics maker’s stock valued at $112,000 after acquiring an additional 754 shares during the period. Hedge funds and other institutional investors own 91.50% of the company’s stock.

In related news, insider Jure Sola sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $32.14, for a total transaction of $6,428,000.00. Following the sale, the insider now directly owns 787,592 shares of the company’s stock, valued at approximately $25,313,206.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David Robert Anderson sold 14,167 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $31.89, for a total transaction of $451,785.63. Following the sale, the chief financial officer now directly owns 92,000 shares in the company, valued at $2,933,880. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 547,971 shares of company stock worth $18,025,372. 5.55% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on SANM shares. BidaskClub raised shares of Sanmina from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Royal Bank of Canada boosted their price target on shares of Sanmina to $33.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 29th. Zacks Investment Research raised shares of Sanmina from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Wednesday, May 15th. Finally, TheStreet raised shares of Sanmina from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $34.00.

Sanmina stock opened at $29.73 on Monday. The company has a market capitalization of $2.05 billion, a PE ratio of 16.16, a P/E/G ratio of 0.82 and a beta of 1.12. Sanmina Corp has a 1 year low of $22.30 and a 1 year high of $34.71.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, April 29th. The electronics maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.17. Sanmina had a net margin of 1.48% and a return on equity of 13.48%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Sanmina Corp will post 3.02 earnings per share for the current fiscal year.

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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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