Foster & Motley Inc. Makes New $994,000 Investment in Sanmina Corporation (NASDAQ:SANM)

Key Points

• Foster & Motley Inc. has acquired a new stake of 13,054 shares in Sanmina Corporation, valued at approximately $994,000, during the first quarter.
• Several institutional investors have increased their stakes in Sanmina, with Natixis Advisors LLC boosting holdings by 8.9% and Bayforest Capital Ltd increasing its holdings by 228.9% in the same period.
• Sanmina reported a quarterly earnings per share of $1.53, surpassing the expected $1.42, with revenue of $2.04 billion, which was above analysts' predictions of $1.98 billion.

Foster & Motley Inc. bought a new stake in Sanmina Corporation (NASDAQ:SANM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,054 shares of the electronics maker's stock, valued at approximately $994,000.

A number of other large investors have also modified their holdings of SANM. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sanmina in the fourth quarter valued at about $90,000. Meeder Asset Management Inc. acquired a new stake in Sanmina during the first quarter valued at approximately $90,000. CWM LLC raised its stake in Sanmina by 26.1% during the first quarter. CWM LLC now owns 1,466 shares of the electronics maker's stock valued at $112,000 after buying an additional 303 shares in the last quarter. Sterling Capital Management LLC raised its stake in Sanmina by 843.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock valued at $131,000 after buying an additional 1,543 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Sanmina by 34.1% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock worth $131,000 after purchasing an additional 437 shares during the period. Institutional investors and hedge funds own 92.71% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Bank of America increased their price target on 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 research report on Saturday, May 24th.

Sanmina Price Performance

NASDAQ SANM traded up $4.18 on Monday, reaching $115.14. 183,414 shares of the stock traded hands, compared to its average volume of 492,345. The firm's fifty day simple moving average is $96.28 and its 200 day simple moving average is $85.84. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.12. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 1.64 and a beta of 1.14. Sanmina Corporation has a 12 month low of $61.52 and a 12 month high of $121.70.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.11. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.98 billion. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. The firm's quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. As a group, research analysts predict 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.