Sanmina Corporation (NASDAQ:SANM) Shares Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Sanmina Corporation by 228.9%, acquiring an additional 2,406 shares, bringing its total holdings to 3,457 shares valued at $263,000.
• Sanmina's stock recently saw a decline of 4.4%, trading at $110.96, while institutional ownership remains high at 92.71%.
• The company exceeded earnings expectations with $1.53 EPS against a consensus estimate of $1.42 and reported quarterly revenue of $2.04 billion, up 10.9% year-over-year.

Bayforest Capital Ltd boosted its stake in Sanmina Corporation (NASDAQ:SANM - Free Report) by 228.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,457 shares of the electronics maker's stock after acquiring an additional 2,406 shares during the quarter. Bayforest Capital Ltd's holdings in Sanmina were worth $263,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC raised its holdings in Sanmina by 14.2% in the 4th quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock valued at $148,239,000 after acquiring an additional 243,258 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Sanmina by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker's stock valued at $116,277,000 after purchasing an additional 21,239 shares during the last quarter. Earnest Partners LLC lifted its position in Sanmina by 1.8% during the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker's stock worth $81,256,000 after buying an additional 19,144 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in Sanmina by 9.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker's stock worth $76,060,000 after buying an additional 90,627 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Sanmina by 8.1% in the 4th quarter. Northern Trust Corp now owns 799,430 shares of the electronics maker's stock worth $60,493,000 after acquiring an additional 59,878 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SANM shares. Bank of America raised their price objective 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. Wall Street Zen upgraded Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

Sanmina Trading Down 0.3%

Shares of SANM traded down $0.40 during midday trading on Tuesday, hitting $116.30. 237,942 shares of the stock were exchanged, compared to its average volume of 496,086. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.91. The firm has a market cap of $6.20 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.64 and a beta of 1.14. Sanmina Corporation has a 52-week low of $62.76 and a 52-week high of $121.70. The stock has a fifty day simple moving average of $96.93 and a 200 day simple moving average of $86.07.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The electronics maker reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.11. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The firm had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter in the previous year, the business posted $1.25 earnings per share. The business's quarterly revenue was up 10.9% compared to the same quarter last year. On average, research 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.