Deutsche Bank AG Trims Stake in Sanmina Corporation $SANM

Key Points

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Deutsche Bank AG lowered its stake in Sanmina Corporation (NASDAQ:SANM - Free Report) by 8.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,182 shares of the electronics maker's stock after selling 4,191 shares during the quarter. Deutsche Bank AG owned approximately 0.08% of Sanmina worth $3,442,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sanmina in the 4th quarter valued at $90,000. Meeder Asset Management Inc. acquired a new stake in Sanmina in the 1st quarter valued at $90,000. CWM LLC increased its holdings in 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 purchasing an additional 303 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Sanmina by 843.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock valued at $131,000 after purchasing an additional 1,543 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Sanmina by 34.1% in the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock valued at $131,000 after purchasing an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.

Sanmina Stock Up 0.4%

Shares of NASDAQ SANM opened at $117.41 on Tuesday. Sanmina Corporation has a 12-month low of $62.76 and a 12-month high of $125.76. The company has a market cap of $6.26 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.71 and a beta of 1.14. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $103.46 and a 200 day moving average price of $88.59.

Sanmina (NASDAQ:SANM - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $1.98 billion. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. Research analysts anticipate that Sanmina Corporation will post 5.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SANM. Bank of America increased their price target on Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Wall Street Zen downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th.

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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