Bank of America Corp DE Invests $189.01 Million in Sanmina Corporation $SANM

Bank of America Corp DE bought a new position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 746,848 shares of the electronics maker's stock, valued at approximately $189,012,000. Bank of America Corp DE owned 1.39% of Sanmina as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Sanmina in the 2nd quarter valued at about $1,390,702,000. Geode Capital Management LLC raised its holdings in shares of Sanmina by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 1,629,023 shares of the electronics maker's stock valued at $244,500,000 after purchasing an additional 58,529 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Sanmina by 57.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 762,365 shares of the electronics maker's stock valued at $98,833,000 after purchasing an additional 278,465 shares during the last quarter. Norges Bank bought a new stake in shares of Sanmina in the fourth quarter worth $101,751,000. Finally, Fisher Asset Management LLC lifted its position in shares of Sanmina by 289.6% in the fourth quarter. Fisher Asset Management LLC now owns 650,173 shares of the electronics maker's stock worth $97,571,000 after purchasing an additional 483,312 shares in the last quarter. Institutional investors own 92.71% of the company's stock.

Sanmina Trading Up 0.2%

NASDAQ SANM opened at $196.06 on Friday. The company has a market cap of $10.51 billion, a PE ratio of 35.07, a PEG ratio of 0.69 and a beta of 1.60. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.71. Sanmina Corporation has a 12 month low of $110.44 and a 12 month high of $288.68. The stock has a 50 day moving average of $199.47 and a 200-day moving average of $198.01.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The electronics maker reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.54. Sanmina had a net margin of 2.41% and a return on equity of 19.08%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. The company's quarterly revenue was up 69.7% compared to the same quarter last year. Sanmina has set its Q4 2026 guidance at 3.050-3.350 EPS and its FY 2026 guidance at 11.900-12.200 EPS. On average, equities research analysts anticipate that Sanmina Corporation will post 10.41 EPS for the current fiscal year.

Analysts Set New Price Targets

SANM has been the subject of a number of analyst reports. Wall Street Zen raised shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Sanmina from $275.00 to $260.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 28th. Zacks Research upgraded shares of Sanmina from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded Sanmina from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $198.33.

About Sanmina

Sanmina Corporation NASDAQ: SANM is a global provider of integrated manufacturing, engineering and supply chain services for original equipment manufacturers. The company designs, builds and supports complex electronic and mechanical products, helping customers manage product development, production, logistics and aftermarket services.

Its capabilities include printed circuit board assembly, systems integration, electromechanical manufacturing, precision machining, enclosures, optical and radio-frequency components, testing, repair and product fulfillment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.