FourThought Financial Partners LLC Acquires New Holdings in Sanmina Corporation (NASDAQ:SANM)

Key Points

• FourThought Financial Partners LLC invested $234,000 in Sanmina Corporation, acquiring 3,072 shares in the first quarter.
• Institutional ownership of Sanmina Corporation stands at 92.71%, with several other investors also increasing their stakes significantly during the first quarter.
• Analysts have raised Sanmina's target price from $100 to $120 and upgraded its rating from "buy" to "strong-buy."

FourThought Financial Partners LLC purchased a new stake in Sanmina Corporation (NASDAQ:SANM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,072 shares of the electronics maker's stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 437 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Sanmina by 10.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,210 shares of the electronics maker's stock valued at $397,000 after purchasing an additional 476 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Sanmina by 87.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,311 shares of the electronics maker's stock valued at $785,000 after purchasing an additional 4,810 shares during the period. JPMorgan Chase & Co. raised its position in shares of Sanmina by 32.4% in the 4th quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker's stock valued at $51,092,000 after buying an additional 165,285 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Sanmina by 60.0% in the 4th quarter. Squarepoint Ops LLC now owns 40,546 shares of the electronics maker's stock valued at $3,068,000 after buying an additional 15,197 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Bank of America upped their price objective on shares of Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday, July 11th.

Sanmina Stock Up 0.1%

Shares of Sanmina stock traded up $0.16 during trading hours on Thursday, reaching $116.06. The company's stock had a trading volume of 356,241 shares, compared to its average volume of 480,531. Sanmina Corporation has a one year low of $61.52 and a one year high of $121.70. The company has a market capitalization of $6.21 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.86 and a beta of 1.17. The stock's fifty day simple moving average is $95.11 and its two-hundred day simple moving average is $85.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.22 and a current ratio of 1.91.

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 analysts' consensus estimates of $1.42 by $0.11. Sanmina had a net margin of 3.22% and a return on equity of 11.30%. 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 firm earned $1.25 earnings per share. The business's quarterly revenue was up 10.9% compared to the same quarter last year. On average, research analysts forecast that Sanmina Corporation will post 5.15 earnings per share for the current year.

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.