Connor Clark & Lunn Investment Management Ltd. Sells 90,618 Shares of Sanmina Co. (NASDAQ:SANM)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 81.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,961 shares of the electronics maker's stock after selling 90,618 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Sanmina were worth $1,435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. raised its holdings in shares of Sanmina by 8.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker's stock worth $77,399,000 after buying an additional 86,492 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its stake in shares of Sanmina by 19.4% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker's stock valued at $63,138,000 after purchasing an additional 149,600 shares in the last quarter. American Century Companies Inc. lifted its holdings in Sanmina by 14.0% during the 2nd quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker's stock valued at $57,977,000 after purchasing an additional 107,474 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Sanmina by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker's stock worth $38,323,000 after buying an additional 59,849 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Sanmina by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 406,994 shares of the electronics maker's stock worth $27,859,000 after acquiring an additional 3,591 shares in the last quarter. Institutional investors own 92.71% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Craig Hallum raised their target price on Sanmina from $62.00 to $69.00 and gave the company a "hold" rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Sanmina from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st.

Sanmina Trading Up 0.4 %

Shares of NASDAQ SANM traded up $0.34 during midday trading on Wednesday, hitting $78.67. The stock had a trading volume of 194,679 shares, compared to its average volume of 422,586. The firm has a market cap of $4.30 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Sanmina Co. has a fifty-two week low of $48.83 and a fifty-two week high of $86.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.05 and a quick ratio of 1.32. The company's 50-day simple moving average is $71.69 and its 200 day simple moving average is $69.40.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company earned $1.20 earnings per share. The company's revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that Sanmina Co. will post 4.84 EPS for the current year.

Sanmina Profile

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.