Headlands Technologies LLC Buys 5,487 Shares of Sanmina Corporation (NASDAQ:SANM)

Key Points

• Headlands Technologies LLC increased its stake in Sanmina Corporation by 174% in Q1, holding 8,641 shares valued at $658,000.
• Sanmina's stock price is currently $121.25, experiencing a 1.9% increase, with a market capitalization of $6.46 billion.
• Analysts have downgraded Sanmina from a "strong-buy" to a "buy" rating, while Bank of America raised its price target from $100 to $120.

Headlands Technologies LLC boosted its position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 174.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,641 shares of the electronics maker's stock after buying an additional 5,487 shares during the period. Headlands Technologies LLC's holdings in Sanmina were worth $658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SANM. Phocas Financial Corp. raised its position in Sanmina by 13.4% during the first quarter. Phocas Financial Corp. now owns 87,649 shares of the electronics maker's stock valued at $6,677,000 after purchasing an additional 10,348 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Sanmina by 15.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,029 shares of the electronics maker's stock valued at $1,069,000 after purchasing an additional 1,907 shares during the period. Foster & Motley Inc. purchased a new stake in Sanmina during the first quarter valued at approximately $994,000. Natixis Advisors LLC raised its position in Sanmina by 8.9% during the first quarter. Natixis Advisors LLC now owns 17,322 shares of the electronics maker's stock valued at $1,320,000 after purchasing an additional 1,414 shares during the period. Finally, Bayforest Capital Ltd raised its position in Sanmina by 228.9% during the first quarter. Bayforest Capital Ltd now owns 3,457 shares of the electronics maker's stock valued at $263,000 after purchasing an additional 2,406 shares during the period. 92.71% of the stock is owned by institutional investors.

Sanmina Trading Up 3.9%

Shares of NASDAQ SANM traded up $4.68 during midday trading on Tuesday, hitting $123.84. The company's stock had a trading volume of 950,038 shares, compared to its average volume of 511,711. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The business's 50 day moving average is $100.30 and its two-hundred day moving average is $87.30. Sanmina Corporation has a 12-month low of $62.76 and a 12-month high of $124.10. The firm has a market cap of $6.60 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $1.98 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Sanmina's revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts expect that Sanmina Corporation will post 5.15 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SANM shares. Wall Street Zen downgraded Sanmina from a "strong-buy" rating to a "buy" rating in a report on Saturday. Bank of America increased their price target on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a report on Friday, July 11th.

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.