Assetmark Inc. Boosts Stock Holdings in Sanmina Corporation (NASDAQ:SANM)

Key Points

• Assetmark Inc. increased its stake in Sanmina Corporation by 4.2%, owning 93,404 shares valued at $7.1 million after purchasing an additional 3,772 shares.
• Sanmina reported $1.41 earnings per share, exceeding analyst expectations, and its revenue reached $1.98 billion, up 8.1% from the previous year.
• Brokerages have upgraded Sanmina's stock rating, with Bank of America raising the price target from $100 to $120 and issuing a "neutral" rating.

Assetmark Inc. increased its position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 93,404 shares of the electronics maker's stock after buying an additional 3,772 shares during the quarter. Assetmark Inc. owned about 0.17% of Sanmina worth $7,116,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sanmina during the 4th quarter valued at approximately $90,000. CWM LLC raised its position in Sanmina by 26.1% in the first quarter. CWM LLC now owns 1,466 shares of the electronics maker's stock valued at $112,000 after purchasing an additional 303 shares during the period. GAMMA Investing LLC raised its position in Sanmina by 34.1% in the first quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock valued at $131,000 after purchasing an additional 437 shares during the period. Sterling Capital Management LLC raised its position in Sanmina by 843.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock valued at $131,000 after purchasing an additional 1,543 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Sanmina by 15.5% in the first quarter. Nisa Investment Advisors LLC now owns 2,542 shares of the electronics maker's stock valued at $194,000 after purchasing an additional 342 shares during the period. Hedge funds and other institutional investors own 92.71% of the company's stock.

Analyst Ratings Changes

SANM has been the topic of a number of research analyst reports. Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Bank of America boosted their target price on Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Friday, July 11th.

Sanmina Stock Up 0.6%

Shares of Sanmina stock traded up $0.69 during trading hours on Thursday, reaching $116.59. 280,355 shares of the company were exchanged, compared to its average volume of 480,122. Sanmina Corporation has a 1 year low of $61.52 and a 1 year high of $121.70. The stock's fifty day moving average is $95.11 and its 200 day moving average is $85.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market cap of $6.23 billion, a PE ratio of 24.95, a PEG ratio of 1.86 and a beta of 1.17.

Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.11. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Sanmina's revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities research analysts forecast that Sanmina Corporation will post 5.15 earnings per share for the current year.

About Sanmina

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.