Sanmina Corporation (NASDAQ:SANM) shares gapped down before the market opened on Wednesday . The stock had previously closed at $31.39, but opened at $32.72. Sanmina Corporation shares last traded at $32.95, with a volume of 741,547 shares.

Several research analysts have commented on SANM shares. Zacks Investment Research downgraded Sanmina Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. ValuEngine raised Sanmina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reissued a “hold” rating and set a $40.00 target price on shares of Sanmina Corporation in a research note on Friday, September 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Sanmina Corporation in a research note on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Sanmina Corporation has an average rating of “Buy” and an average target price of $43.25.

Sanmina Corporation (NASDAQ:SANM) last issued its quarterly earnings results on Monday, October 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.12). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Sanmina Corporation had a net margin of 2.02% and a return on equity of 12.17%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS.

Sanmina Corporation announced that its Board of Directors has initiated a share buyback plan on Monday, September 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the electronics maker to reacquire up to 77% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, VP Robert K. Eulau sold 10,000 shares of Sanmina Corporation stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $37.21, for a total transaction of $372,100.00. Following the completion of the sale, the vice president now owns 180,000 shares in the company, valued at approximately $6,697,800. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.96% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SANM. LS Investment Advisors LLC boosted its position in shares of Sanmina Corporation by 4.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,498 shares of the electronics maker’s stock valued at $133,000 after acquiring an additional 138 shares during the last quarter. Riverhead Capital Management LLC boosted its position in shares of Sanmina Corporation by 70.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,927 shares of the electronics maker’s stock valued at $150,000 after acquiring an additional 1,627 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Sanmina Corporation during the 2nd quarter valued at about $203,000. Nisa Investment Advisors LLC boosted its position in shares of Sanmina Corporation by 3.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,440 shares of the electronics maker’s stock valued at $207,000 after acquiring an additional 200 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Sanmina Corporation during the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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Sanmina Corporation Company Profile

Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.

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