Sanmina Corporation (NASDAQ:SANM) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in Sanmina Corporation (NASDAQ:SANM) by 44.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 541 shares of the electronics maker’s stock after selling 432 shares during the period. Federated Hermes Inc.’s holdings in Sanmina were worth $41,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Summit Investment Advisors Inc. boosted its position in shares of Sanmina by 2.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,620 shares of the electronics maker’s stock worth $425,000 after acquiring an additional 121 shares during the last quarter. Mariner LLC lifted its position in Sanmina by 3.5% during the fourth quarter. Mariner LLC now owns 4,510 shares of the electronics maker’s stock valued at $341,000 after buying an additional 152 shares in the last quarter. Xponance Inc. lifted its position in Sanmina by 3.4% during the first quarter. Xponance Inc. now owns 4,687 shares of the electronics maker’s stock valued at $357,000 after buying an additional 152 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in Sanmina by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 11,709 shares of the electronics maker’s stock valued at $892,000 after buying an additional 172 shares in the last quarter. Finally, Kendall Capital Management lifted its position in Sanmina by 3.1% during the first quarter. Kendall Capital Management now owns 6,395 shares of the electronics maker’s stock valued at $487,000 after buying an additional 190 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Trading Down 1.7%

Shares of SANM stock opened at $119.16 on Tuesday. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.12. Sanmina Corporation has a fifty-two week low of $62.76 and a fifty-two week high of $122.94. The firm’s 50 day moving average price is $100.30 and its two-hundred day moving average price is $87.30.

Sanmina (NASDAQ:SANM) last posted its earnings results on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.11. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts anticipate that Sanmina Corporation will post 5.15 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on SANM shares. Bank of America lifted their price target on shares of Sanmina from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Wall Street Zen cut shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

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.