Beacon Harbor Wealth Advisors Inc. Makes New Investment in Sanmina Corporation (NASDAQ:SANM)

Key Points

• Beacon Harbor Wealth Advisors Inc. acquired 72,507 shares of Sanmina Corporation valued at approximately $5.5 million, representing a 0.14% stake in the company.
• Several institutional investors have increased or initiated stakes in Sanmina, with a significant 92.71% of the stock currently owned by hedge funds and institutional investors.
• Sanmina recently reported earnings per share (EPS) of $1.53 for the quarter, exceeding estimates, and a revenue of $2.04 billion, marking a 10.9% year-over-year growth.

Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 72,507 shares of the electronics maker's stock, valued at approximately $5,524,000. Beacon Harbor Wealth Advisors Inc. owned about 0.14% of Sanmina as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SANM. Alyeska Investment Group L.P. acquired a new stake in shares of Sanmina in the fourth quarter valued at approximately $34,868,000. FMR LLC grew its stake in Sanmina by 14.2% during the fourth 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Sanmina during the fourth quarter worth about $12,928,000. GAMMA Investing LLC increased its holdings in Sanmina by 10,112.8% in the 1st quarter. GAMMA Investing LLC now owns 131,030 shares of the electronics maker's stock valued at $9,982,000 after buying an additional 129,747 shares during the period. Finally, Millennium Management LLC raised its position in shares of Sanmina by 38.6% in the 4th quarter. Millennium Management LLC now owns 406,862 shares of the electronics maker's stock valued at $30,787,000 after buying an additional 113,314 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SANM. Wall Street Zen lowered shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Bank of America raised their target price on Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Friday, July 11th.

Sanmina Price Performance

Shares of SANM stock traded up $2.23 during trading hours on Friday, reaching $121.25. The company's stock had a trading volume of 1,082,724 shares, compared to its average volume of 955,274. The firm's 50 day simple moving average is $99.63 and its 200-day simple moving average is $87.01. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.74 and a beta of 1.14. Sanmina Corporation has a fifty-two week low of $62.76 and a fifty-two week high of $122.08. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.11. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.98 billion. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. The company's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Sell-side analysts forecast that Sanmina Corporation will post 5.15 earnings per share 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.