Algert Global LLC Takes Position in Sanmina Corporation $SANM

Key Points

• Algert Global LLC has acquired a new stake in Sanmina Corporation, purchasing 90,090 shares valued at approximately $6.86 million, which represents about 0.17% ownership of the company.
• Several institutional investors have increased their stakes in Sanmina, with notable increases from GAMMA Investing LLC (34.1% boost) and Janney Montgomery Scott LLC (87.4% boost) during the first quarter.
• Sanmina reported $1.53 earnings per share for its last quarter, exceeding analysts' estimates, and with a significant 10.9% year-over-year revenue growth to $2.04 billion.

Algert Global LLC purchased a new stake in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 90,090 shares of the electronics maker's stock, valued at approximately $6,863,000. Algert Global LLC owned approximately 0.17% of Sanmina as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SANM. GAMMA Investing LLC boosted its holdings in Sanmina by 34.1% in the first quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock worth $131,000 after purchasing an additional 437 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sanmina by 10.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,210 shares of the electronics maker's stock worth $397,000 after purchasing an additional 476 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Sanmina by 87.4% in the first quarter. Janney Montgomery Scott LLC now owns 10,311 shares of the electronics maker's stock worth $785,000 after purchasing an additional 4,810 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Sanmina by 60.0% in the fourth quarter. Squarepoint Ops LLC now owns 40,546 shares of the electronics maker's stock worth $3,068,000 after purchasing an additional 15,197 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Sanmina in the fourth quarter worth $2,644,000. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SANM. Wall Street Zen lowered shares of Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Bank of America boosted their target price on shares of Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th.

Sanmina Stock Up 0.2%

Sanmina stock opened at $116.98 on Monday. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.71 and a beta of 1.14. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21. Sanmina Corporation has a fifty-two week low of $62.76 and a fifty-two week high of $125.76. The firm has a fifty day moving average price of $102.87 and a two-hundred day moving average price of $88.36.

Sanmina (NASDAQ:SANM - Get Free Report) last released its earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.11. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.98 billion. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The business's revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. As a group, 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.

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