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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Sanmina by 14.2% during the 4th quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock worth $148,239,000 after buying an additional 243,258 shares during the period. Franklin Resources Inc. raised its holdings in shares of Sanmina by 39.6% in the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock valued at $139,407,000 after purchasing an additional 522,534 shares during the last quarter. Geode Capital Management LLC boosted its position in Sanmina by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker's stock valued at $116,277,000 after purchasing an additional 21,239 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Sanmina by 1.8% during the 4th quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker's stock worth $81,256,000 after purchasing an additional 19,144 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in shares of Sanmina by 9.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker's stock worth $76,060,000 after purchasing an additional 90,627 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Sanmina Price Performance

Shares of SANM stock traded down $0.23 on Monday, hitting $98.35. 851,103 shares of the company's stock were exchanged, compared to its average volume of 535,428. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 1.22. Sanmina Corporation has a 12 month low of $61.52 and a 12 month high of $107.03. The stock has a market cap of $5.26 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.52 and a beta of 1.17. The company has a 50 day moving average of $93.33 and a 200 day moving average of $84.74.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its earnings results on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.42 by $0.11. Sanmina had a return on equity of 10.84% and a net margin of 3.09%. The firm's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, equities research analysts predict that Sanmina Corporation will post 5.15 EPS for the current year.

Analyst Ratings Changes

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

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.