Moloney Securities Asset Management LLC Buys New Shares in Sanmina Corporation (NASDAQ:SANM)

Moloney Securities Asset Management LLC bought a new position in Sanmina Corporation (NASDAQ:SANM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,530 shares of the electronics maker's stock, valued at approximately $269,000.

Several other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sanmina during the fourth quarter worth about $90,000. Sterling Capital Management LLC raised its position in Sanmina by 843.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock worth $131,000 after acquiring an additional 1,543 shares during the last quarter. GAMMA Investing LLC raised its position in Sanmina by 34.1% during the first quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock worth $131,000 after acquiring an additional 437 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in Sanmina during the first quarter worth about $215,000. Finally, EntryPoint Capital LLC acquired a new position in Sanmina during the fourth quarter worth about $223,000. Institutional investors and hedge funds own 92.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SANM shares. Wall Street Zen raised shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Bank of America boosted their price objective on shares of Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Friday.

Sanmina Trading Down 0.2%

Shares of NASDAQ:SANM traded down $0.17 during trading on Friday, reaching $104.17. The stock had a trading volume of 745,415 shares, compared to its average volume of 418,059. The business has a fifty day moving average price of $89.43 and a 200-day moving average price of $82.95. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.12. The stock has a market cap of $5.57 billion, a P/E ratio of 24.11, a PEG ratio of 1.60 and a beta of 1.17. Sanmina Corporation has a fifty-two week low of $61.52 and a fifty-two week high of $105.72.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.03. Sanmina had a net margin of 3.09% and a return on equity of 10.84%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. The company's revenue was up 8.1% on a year-over-year basis. As a group, analysts anticipate that Sanmina Corporation will post 5.15 earnings per share for the current fiscal 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.