Foster & Motley Inc. Acquires Shares of 13,054 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. acquired a new stake in Sanmina Corporation (NASDAQ:SANM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,054 shares of the electronics maker's stock, valued at approximately $994,000.

Several other large investors have also recently added to or reduced their stakes in SANM. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sanmina during the fourth quarter worth about $90,000. Meeder Asset Management Inc. bought a new stake in shares of Sanmina in the 1st quarter worth approximately $90,000. CWM LLC lifted 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 worth $112,000 after purchasing an additional 303 shares during the last quarter. Sterling Capital Management LLC raised its stake in 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in Sanmina by 34.1% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock valued at $131,000 after acquiring an additional 437 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SANM has been the topic of a number of research reports. Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Bank of America boosted their target price on Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday, July 11th.

Sanmina Stock Performance

Shares of NASDAQ SANM traded down $5.08 during trading hours on Friday, hitting $110.96. 1,826,938 shares of the company's stock were exchanged, compared to its average volume of 801,562. Sanmina Corporation has a 1-year low of $61.52 and a 1-year high of $121.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.64 and a beta of 1.14. The company's 50-day moving average price is $96.28 and its 200-day moving average price is $85.81.

Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The electronics maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.11. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the company posted $1.25 EPS. The company's revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts expect that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

Sanmina Company 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.