Donald Smith Lowers stake in Sanmina Corp (SANM)

Sanmina Corp (SANM) : Donald Smith reduced its stake in Sanmina Corp by 32.67% during the most recent quarter end. The investment management company now holds a total of 4,158,057 shares of Sanmina Corp which is valued at $109,190,577 after selling 2,017,229 shares in Sanmina Corp , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Sanmina Corp makes up approximately 2.79% of Donald Smith’s portfolio.

Other Hedge Funds, Including , Credit Suisse Ag boosted its stake in SANM in the latest quarter, The investment management firm added 41,565 additional shares and now holds a total of 127,450 shares of Sanmina Corp which is valued at $3,346,837. Rational Advisors sold out all of its stake in SANM during the most recent quarter. The investment firm sold 28,000 shares of SANM which is valued $735,280.Royce Associates Lp reduced its stake in SANM by selling 98,000 shares or 12.78% in the most recent quarter. The Hedge Fund company now holds 668,923 shares of SANM which is valued at $17,545,850. Sanmina Corp makes up approx 0.11% of Royce Associates Lp’s portfolio.Barrow Hanley Mewhinney Strauss reduced its stake in SANM by selling 1,126 shares or 0.82% in the most recent quarter. The Hedge Fund company now holds 136,785 shares of SANM which is valued at $3,587,871. Sanmina Corp makes up approx 0.01% of Barrow Hanley Mewhinney Strauss’s portfolio.Capital One National Association reduced its stake in SANM by selling 11,161 shares or 25.56% in the most recent quarter. The Hedge Fund company now holds 32,513 shares of SANM which is valued at $942,227. Sanmina Corp makes up approx 0.08% of Capital One National Association’s portfolio.

Sanmina Corp opened for trading at $26.48 and hit $26.64 on the upside on Tuesday, eventually ending the session at $26.49, with a gain of 0.68% or 0.18 points. The heightened volatility saw the trading volume jump to 3,41,226 shares. Company has a market cap of $1,958 M.

On the company’s financial health, Sanmina Corp reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $0.62. The company had revenue of $1669.47 million for the quarter, compared to analysts expectations of $1653.35 million. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.

Sanmina Corporation is a provider of integrated manufacturing solutions components products and repair logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs) in the communications networks computing and storage multimedia industrial and semiconductor capital equipment defense and aerospace medical clean technology (CleanTech) and automotive industries. Its operations are managed as two businesses such as Integrated Manufacturing Solutions (IMS) and Components Products and Services (CPS). The Company’s services include product design and engineering including initial development detailed design prototyping validation preproduction services and manufacturing design release; manufacturing of components subassemblies and complete systems; final system assembly and test direct order fulfillment and logistics services and after-market product service and support and global supply chain management.

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