Highland Capital Management LLC Purchases Shares of 3,301 Sanmina Corporation (NASDAQ:SANM)

Highland Capital Management LLC bought a new position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,301 shares of the electronics maker's stock, valued at approximately $251,000.

A number of other large investors have also recently bought and sold shares of SANM. FMR LLC increased its holdings in shares of Sanmina by 14.2% during the 4th quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock worth $148,239,000 after buying an additional 243,258 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Sanmina by 39.6% in the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock worth $139,407,000 after buying an additional 522,534 shares during the period. Geode Capital Management LLC grew its stake in Sanmina by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker's stock valued at $116,277,000 after purchasing an additional 21,239 shares in the last quarter. Earnest Partners LLC raised its holdings in Sanmina by 1.8% in the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker's stock valued at $81,256,000 after acquiring an additional 19,144 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in shares of Sanmina by 9.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker's stock worth $76,060,000 after purchasing an additional 90,627 shares during the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

Analyst Upgrades and Downgrades

SANM has been the subject of a number of recent research reports. Wall Street Zen upgraded Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Bank of America boosted their price target on Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, June 9th.

Sanmina Price Performance

Shares of NASDAQ SANM traded down $0.59 during mid-day trading on Tuesday, hitting $97.24. 56,198 shares of the stock were exchanged, compared to its average volume of 408,861. The company has a market cap of $5.20 billion, a P/E ratio of 22.51, a PEG ratio of 1.51 and a beta of 1.14. Sanmina Corporation has a twelve month low of $61.52 and a twelve month high of $98.54. The stock's fifty day simple moving average is $85.23 and its two-hundred day simple moving average is $81.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.22 and a current ratio of 1.96.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.03. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Sanmina had a net margin of 3.09% and a return on equity of 10.84%. Sanmina's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 earnings per share. As a group, analysts forecast that Sanmina Corporation will post 5.15 EPS for the current fiscal year.

Sanmina Company 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.