Banque Pictet & Cie SA Makes New Investment in Sanmina Corporation (NASDAQ:SANM)

Banque Pictet & Cie SA acquired a new position in Sanmina Corporation (NASDAQ:SANM - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,434 shares of the electronics maker's stock, valued at approximately $490,000.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Sanmina by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 610,067 shares of the electronics maker's stock valued at $46,164,000 after buying an additional 3,330 shares during the period. Proficio Capital Partners LLC acquired a new position in Sanmina during the 4th quarter valued at about $1,592,000. Raymond James Financial Inc. acquired a new position in Sanmina during the 4th quarter valued at about $2,644,000. PNC Financial Services Group Inc. increased its stake in Sanmina by 24.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,000 shares of the electronics maker's stock valued at $454,000 after buying an additional 1,164 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sanmina by 14.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,139 shares of the electronics maker's stock valued at $1,070,000 after buying an additional 1,798 shares during the period. Institutional investors and hedge funds own 92.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America raised their target price on shares of Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday. Wall Street Zen raised shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th.

Sanmina Price Performance

Shares of NASDAQ:SANM traded up $0.75 during trading hours on Monday, hitting $104.92. 473,126 shares of the company's stock traded hands, compared to its average volume of 418,279. Sanmina Corporation has a 52 week low of $61.52 and a 52 week high of $105.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.22 and a current ratio of 1.96. The company's fifty day simple moving average is $89.43 and its two-hundred day simple moving average is $82.98. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.03. Sanmina had a net margin of 3.09% and a return on equity of 10.84%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $1.30 EPS. The business's revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that Sanmina Corporation will post 5.15 EPS for the current fiscal 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.