First Citizens Bank & Trust Co. Buys 5,602 Shares of Sanmina Corporation $SANM

Key Points

• First Citizens Bank & Trust Co. increased its stake in Sanmina Corporation by 198.1%, acquiring an additional 5,602 shares in the second quarter, bringing its total holdings to 8,430 shares valued at $825,000.
• Sanmina reported a quarterly earnings per share of $1.53, exceeding analyst estimates of $1.42, along with a revenue of $2.04 billion, which was higher than expected.
• Despite fluctuations, analysts have upgraded Sanmina's rating from "buy" to "strong-buy" and adjusted target prices, reflecting a positive outlook on the company's stock performance.

First Citizens Bank & Trust Co. lifted its stake in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 198.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,430 shares of the electronics maker's stock after acquiring an additional 5,602 shares during the period. First Citizens Bank & Trust Co.'s holdings in Sanmina were worth $825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. XTX Topco Ltd lifted its stake in Sanmina by 1.2% in the first quarter. XTX Topco Ltd now owns 11,886 shares of the electronics maker's stock worth $905,000 after purchasing an additional 140 shares during the last quarter. Xponance Inc. grew its stake in shares of Sanmina by 3.4% during the first quarter. Xponance Inc. now owns 4,687 shares of the electronics maker's stock valued at $357,000 after buying an additional 152 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Sanmina by 1.8% in the first quarter. Hsbc Holdings PLC now owns 8,659 shares of the electronics maker's stock worth $659,000 after buying an additional 152 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Sanmina by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 11,898 shares of the electronics maker's stock worth $1,164,000 after buying an additional 189 shares during the period. Finally, Kendall Capital Management lifted its stake in shares of Sanmina by 3.1% in the 1st quarter. Kendall Capital Management now owns 6,395 shares of the electronics maker's stock valued at $487,000 after acquiring an additional 190 shares during the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Sanmina Trading Up 0.7%

SANM opened at $133.77 on Friday. Sanmina Corporation has a one year low of $63.67 and a one year high of $160.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21. The business has a 50 day simple moving average of $120.67 and a two-hundred day simple moving average of $102.12. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.37 and a beta of 1.19.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The electronics maker reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.11. Sanmina had a return on equity of 11.30% and a net margin of 3.22%.The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $1.25 EPS. The business's quarterly revenue was up 10.9% compared to the same quarter last year. Sanmina has set its Q4 2025 guidance at 1.520-1.620 EPS. Analysts predict that Sanmina Corporation will post 5.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SANM shares. Weiss Ratings restated a "buy (b)" rating on shares of Sanmina in a research report on Wednesday, October 8th. Bank of America increased their price objective on Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a report on Sunday, October 19th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Sanmina currently has an average rating of "Hold" and an average target price of $94.50.

About Sanmina

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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