Strs Ohio Lowers stake in Sanmina Corp (SANM)

Sanmina Corp (SANM) : Strs Ohio reduced its stake in Sanmina Corp by 5.22% during the most recent quarter end. The investment management company now holds a total of 49,000 shares of Sanmina Corp which is valued at $1,079,470 after selling 2,700 shares in Sanmina Corp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Sanmina Corp makes up approximately 0.06% of Strs Ohio’s portfolio.

Sanmina Corp closed down -0.2 points or -0.83% at $24.04 with 7,94,547 shares getting traded on Wednesday. Post opening the session at $23.95, the shares hit an intraday low of $23.86 and an intraday high of $24.36 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Meritage Portfolio Management sold out all of its stake in SANM during the most recent quarter. The investment firm sold 189,439 shares of SANM which is valued $4,173,341. Palo Capital added SANM to its portfolio by purchasing 10,827 company shares during the most recent quarter which is valued at $238,519. Sanmina Corp makes up approx 0.19% of Palo Capital’s portfolio.Capital One National Association boosted its stake in SANM in the latest quarter, The investment management firm added 1,765 additional shares and now holds a total of 43,674 shares of Sanmina Corp which is valued at $962,138. Sanmina Corp makes up approx 0.09% of Capital One National Association’s portfolio. Eqis Capital Management added SANM to its portfolio by purchasing 10,136 company shares during the most recent quarter which is valued at $224,310. Sanmina Corp makes up approx 0.02% of Eqis Capital Management’s portfolio.

On the company’s financial health, Sanmina Corp reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $0.56. The company had revenue of $1.61 million for the quarter, compared to analysts expectations of $1591.33 million. The company’s revenue was down -99.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Sanmina Corp. Company shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 25 from a previous price target of $22 .Company shares were Reiterated by RBC Capital Mkts on Jan 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 19 from a previous price target of $18 .Sanmina Corp was Upgraded by Citigroup to ” Neutral” on Jan 26, 2016.

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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