Fifth Third Bancorp Increases Stock Holdings in Sanmina Corporation $SANM

Key Points

• Fifth Third Bancorp dramatically increased its Sanmina stake in Q1, boosting holdings by 7,723.8% to 36,850 shares worth about $4.78 million.
• Institutional ownership of Sanmina remains very high, with hedge funds and other investors controlling 92.71% of the company. Several firms also made sizable additions, including Invesco, Norges Bank, Fisher Asset Management, and Marshall Wace.
• Sanmina reported better-than-expected quarterly results, posting EPS of $3.16 versus $2.42 expected and revenue of $4.01 billion, up 102.3% year over year. The company also reaffirmed strong guidance for fiscal 2026, even as some insiders, including the CEO and CFO, sold shares in recent months.

Fifth Third Bancorp increased its stake in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 7,723.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,850 shares of the electronics maker's stock after purchasing an additional 36,379 shares during the quarter. Fifth Third Bancorp owned 0.07% of Sanmina worth $4,777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Invesco Ltd. increased its holdings in shares of Sanmina by 74.6% in the 3rd quarter. Invesco Ltd. now owns 2,185,652 shares of the electronics maker's stock valued at $251,590,000 after acquiring an additional 933,974 shares during the last quarter. Norges Bank purchased a new stake in shares of Sanmina in the fourth quarter valued at about $101,751,000. Fisher Asset Management LLC lifted its position in Sanmina by 289.6% during the 4th quarter. Fisher Asset Management LLC now owns 650,173 shares of the electronics maker's stock worth $97,571,000 after acquiring an additional 483,312 shares during the period. Marshall Wace LLP lifted its holdings in shares of Sanmina by 520.3% during the fourth quarter. Marshall Wace LLP now owns 428,519 shares of the electronics maker's stock worth $64,308,000 after purchasing an additional 359,441 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Sanmina in the 4th quarter worth $53,430,000. Hedge funds and other institutional investors own 92.71% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SANM. Weiss Ratings raised Sanmina from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Sanmina in a research report on Monday, March 30th. They set a "neutral" rating and a $145.00 target price for the company. Susquehanna began coverage on shares of Sanmina in a report on Wednesday, April 1st. They issued a "neutral" rating and a $135.00 price target on the stock. Wall Street Zen downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Zacks Research lowered shares of Sanmina from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Sanmina has an average rating of "Hold" and an average price target of $160.00.

Insider Activity at Sanmina

In other news, CEO Jure Sola sold 118,368 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $228.84, for a total value of $27,087,333.12. Following the completion of the sale, the chief executive officer directly owned 1,227,573 shares in the company, valued at approximately $280,917,805.32. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jonathan P. Faust sold 10,076 shares of Sanmina stock in a transaction on Friday, May 29th. The shares were sold at an average price of $265.80, for a total value of $2,678,200.80. Following the completion of the sale, the chief financial officer directly owned 77,000 shares of the company's stock, valued at $20,466,600. This trade represents a 11.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 156,509 shares of company stock worth $35,699,476 in the last ninety days. Company insiders own 3.10% of the company's stock.

Sanmina Stock Down 0.4%

SANM stock opened at $197.24 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.71 and a quick ratio of 1.03. The firm has a market capitalization of $10.57 billion, a P/E ratio of 41.70, a P/E/G ratio of 0.76 and a beta of 1.56. Sanmina Corporation has a 52-week low of $95.49 and a 52-week high of $288.68. The company's 50 day simple moving average is $239.12 and its 200-day simple moving average is $184.67.

Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The electronics maker reported $3.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.74. Sanmina had a return on equity of 16.23% and a net margin of 2.29%.The firm had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $3.28 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business's revenue for the quarter was up 102.3% on a year-over-year basis. Sanmina has set its Q3 2026 guidance at 2.550-2.850 EPS and its FY 2026 guidance at 10.750-11.350 EPS. As a group, equities research analysts anticipate that Sanmina Corporation will post 9.36 EPS for the current year.

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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