Pacific Heights Asset Management Lowers stake in Sanmina Corp (SANM)

Sanmina Corp (SANM) : Pacific Heights Asset Management reduced its stake in Sanmina Corp by 2.11% during the most recent quarter end. The investment management company now holds a total of 465,000 shares of Sanmina Corp which is valued at $11.5 Million after selling 10,000 shares in Sanmina Corp , the firm said in a disclosure report filed with the SEC on May 11, 2016.Sanmina Corp makes up approximately 1.10% of Pacific Heights Asset Management’s portfolio.

Other Hedge Funds, Including , Landscape Capital Management L.l.c. added SANM to its portfolio by purchasing 46,800 company shares during the most recent quarter which is valued at $1.2 Million. Sanmina Corp makes up approx 0.14% of Landscape Capital Management L.l.c.’s portfolio.Nationwide Fund Advisors boosted its stake in SANM in the latest quarter, The investment management firm added 4,391 additional shares and now holds a total of 322,602 shares of Sanmina Corp which is valued at $7.8 Million. Sanmina Corp makes up approx 0.03% of Nationwide Fund Advisors’s portfolio.Russell Frank Co boosted its stake in SANM in the latest quarter, The investment management firm added 101,932 additional shares and now holds a total of 444,212 shares of Sanmina Corp which is valued at $10.5 Million. Sanmina Corp makes up approx 0.02% of Russell Frank Co’s portfolio. Mizuho Trust Banking Ltd. added SANM to its portfolio by purchasing 423,356 company shares during the most recent quarter which is valued at $10 Million. Sanmina Corp makes up approx 0.03% of Mizuho Trust Banking Ltd.’s portfolio.

Sanmina Corp opened for trading at $24.69 and hit $25.7599 on the upside on Monday, eventually ending the session at $25.52, with a gain of 2.78% or 0.69 points. The heightened volatility saw the trading volume jump to 11,96,421 shares. Company has a market cap of $1,879 M.

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 .

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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