Bank of America Corp DE Purchases 120,164 Shares of Sanmina Corporation $SANM

Key Points

• Bank of America increased its Sanmina stake by 14.6%, purchasing 120,164 additional shares to own 945,382 shares, or about 1.76% of the company valued at $122.6 million.
• Institutional investors own 92.71% of Sanmina, while several funds—including Lazard Asset Management and Edgestream Partners—also expanded their positions during the first quarter.
• Sanmina reported quarterly EPS of $3.31, beating estimates by $0.54, while revenue rose 69.7% year over year to $3.46 billion. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $198.33.

Bank of America Corp DE lifted its position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 14.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 945,382 shares of the electronics maker's stock after purchasing an additional 120,164 shares during the quarter. Bank of America Corp DE owned about 1.76% of Sanmina worth $122,559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SANM. Edgestream Partners L.P. boosted its holdings in shares of Sanmina by 56.3% during the 1st quarter. Edgestream Partners L.P. now owns 27,792 shares of the electronics maker's stock valued at $3,603,000 after buying an additional 10,016 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Sanmina by 5.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,048 shares of the electronics maker's stock worth $136,000 after acquiring an additional 54 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Sanmina by 26.7% in the 1st quarter. California State Teachers Retirement System now owns 63,747 shares of the electronics maker's stock worth $8,264,000 after acquiring an additional 13,428 shares in the last quarter. Quantinno Capital Management LP lifted its position in Sanmina by 4.8% during the 1st quarter. Quantinno Capital Management LP now owns 14,650 shares of the electronics maker's stock valued at $1,899,000 after acquiring an additional 674 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Sanmina by 149.6% during the 1st quarter. Lazard Asset Management LLC now owns 29,215 shares of the electronics maker's stock valued at $3,787,000 after acquiring an additional 17,512 shares during the period. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Stock Up 3.3%

Shares of Sanmina stock opened at $205.66 on Friday. The company has a 50-day simple moving average of $227.02 and a two-hundred day simple moving average of $188.85. The stock has a market capitalization of $11.02 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 0.70 and a beta of 1.59. Sanmina Corporation has a 52-week low of $108.36 and a 52-week high of $288.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.06 and a current ratio of 1.78.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The electronics maker reported $3.31 earnings per share for the quarter, beating 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 company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The firm'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, analysts anticipate that Sanmina Corporation will post 10.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SANM has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Sanmina from $275.00 to $260.00 and set a "neutral" rating on the stock in a report on Tuesday, July 28th. Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Zacks Research upgraded Sanmina from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Sanmina from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 15th. One 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. According to data from MarketBeat.com, Sanmina presently has an average rating of "Moderate Buy" and a consensus target price of $198.33.

Insider Activity at Sanmina

In other news, CFO Jonathan P. Faust sold 10,076 shares of the business's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $265.80, for a total value of $2,678,200.80. Following the completion of the transaction, the chief financial officer owned 77,000 shares in the company, valued at $20,466,600. The trade was a 11.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.10% of the company's stock.

Sanmina Profile

Sanmina Corporation is a leading global electronics manufacturing services (EMS) provider specializing in the design, production and end-to-end supply chain solutions for complex electronic products. Founded in 1980, the company has built a reputation for delivering high-reliability manufacturing across a wide range of industries, including communications, computing, aerospace and defense, medical, automotive and industrial sectors.

Sanmina's core offerings encompass product design and engineering support, precision PCB fabrication and assembly, system integration, testing, and final system deployment.

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