Earnest Partners LLC increased its stake in shares of Sanmina Corp (NASDAQ:SANM) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,034,468 shares of the electronics maker’s stock after buying an additional 36,179 shares during the quarter. Earnest Partners LLC owned about 4.36% of Sanmina worth $91,884,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Sanmina in the first quarter worth about $169,000. Ibex Investors LLC acquired a new position in Sanmina in the 2nd quarter valued at $229,000. LPL Financial LLC acquired a new position in Sanmina in the 2nd quarter valued at $231,000. Everence Capital Management Inc. bought a new stake in shares of Sanmina during the 1st quarter valued at $253,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Sanmina by 41.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 8,861 shares of the electronics maker’s stock valued at $268,000 after acquiring an additional 2,580 shares during the period. 93.12% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on the company. BidaskClub upgraded Sanmina from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded Sanmina from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.
Shares of SANM stock opened at $32.73 on Friday. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 0.88 and a beta of 1.37. The stock has a 50-day moving average of $30.16 and a 200-day moving average of $30.28. The company has a current ratio of 1.64, a quick ratio of 1.14 and a debt-to-equity ratio of 0.22. Sanmina Corp has a 1-year low of $22.30 and a 1-year high of $34.71.
Sanmina (NASDAQ:SANM) last released its earnings results on Monday, July 29th. The electronics maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. Sanmina had a return on equity of 13.98% and a net margin of 1.55%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts forecast that Sanmina Corp will post 2.98 earnings per share for the current year.
Sanmina Company Profile
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.
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