Bayforest Capital Ltd Buys 2,406 Shares of Sanmina Corporation (NASDAQ:SANM)

Bayforest Capital Ltd raised its stake in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 228.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,457 shares of the electronics maker's stock after buying an additional 2,406 shares during the quarter. Bayforest Capital Ltd's holdings in Sanmina were worth $263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sanmina during the fourth quarter valued at $90,000. Meeder Asset Management Inc. purchased a new stake in shares of Sanmina in the 1st quarter valued at about $90,000. CWM LLC raised its holdings in shares of Sanmina by 26.1% in the 1st quarter. CWM LLC now owns 1,466 shares of the electronics maker's stock valued at $112,000 after acquiring an additional 303 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Sanmina by 843.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock valued at $131,000 after acquiring an additional 1,543 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Sanmina by 34.1% during the first quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock worth $131,000 after purchasing an additional 437 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SANM has been the topic of a number of recent analyst reports. 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, July 11th. Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th.

Sanmina Trading Down 4.4%

Shares of SANM stock opened at $110.96 on Friday. The business has a 50-day moving average price of $96.28 and a two-hundred day moving average price of $85.80. Sanmina Corporation has a 12-month low of $61.52 and a 12-month high of $121.70. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.91 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14.

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. The company had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.98 billion. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. Sanmina's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $1.25 EPS. 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.

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