Millennium Management LLC grew its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 406,862 shares of the electronics maker's stock after acquiring an additional 113,314 shares during the quarter. Millennium Management LLC owned about 0.75% of Sanmina worth $30,787,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Sanmina by 296.3% during the third quarter. Barclays PLC now owns 92,863 shares of the electronics maker's stock valued at $6,358,000 after acquiring an additional 69,431 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Sanmina by 32.4% during the fourth quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker's stock valued at $51,092,000 after acquiring an additional 165,285 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Sanmina by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the electronics maker's stock valued at $166,000 after acquiring an additional 125 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Sanmina during the fourth quarter valued at about $2,644,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Sanmina by 9.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,247 shares of the electronics maker's stock valued at $8,018,000 after acquiring an additional 8,962 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.
Sanmina Stock Performance
NASDAQ SANM traded down $0.25 during trading hours on Friday, reaching $84.20. The stock had a trading volume of 412,782 shares, compared to its average volume of 397,739. The stock has a fifty day moving average of $78.11 and a 200 day moving average of $79.70. The stock has a market cap of $4.50 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. Sanmina Co. has a 52-week low of $61.52 and a 52-week high of $91.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 2.06.
Sanmina (NASDAQ:SANM - Get Free Report) last issued its earnings results on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.03. Sanmina had a return on equity of 10.61% and a net margin of 2.99%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. Sanmina's revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts predict that Sanmina Co. will post 5.15 earnings per share for the current year.
Sanmina announced that its board has approved a stock buyback program on Monday, January 27th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Bank of America upgraded Sanmina from an "underperform" rating to a "neutral" rating and upped their target price for the company from $58.00 to $92.00 in a research report on Wednesday, January 29th.
View Our Latest Analysis on Sanmina
About Sanmina
(
Free Report)
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.
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