Moloney Securities Asset Management LLC Purchases Shares of 3,530 Sanmina Corporation (NASDAQ:SANM)

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Sanmina in the fourth quarter worth about $48,823,000. Franklin Resources Inc. increased its position in Sanmina by 39.6% during the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock worth $139,407,000 after buying an additional 522,534 shares during the period. Alyeska Investment Group L.P. acquired a new position in Sanmina during the fourth quarter worth $34,868,000. FMR LLC lifted its position in shares of Sanmina by 14.2% in the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock valued at $148,239,000 after acquiring an additional 243,258 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Sanmina during the fourth quarter worth about $12,928,000. 92.71% of the stock is currently owned by institutional investors.

Sanmina Trading Down 1.8%

NASDAQ:SANM traded down $1.84 on Tuesday, hitting $103.08. The stock had a trading volume of 676,609 shares, compared to its average volume of 438,474. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.60 and a beta of 1.17. Sanmina Corporation has a 1-year low of $61.52 and a 1-year high of $106.83. 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 company has a fifty day moving average price of $89.95 and a two-hundred day moving average price of $83.18.

Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.03. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.97 billion. Sanmina had a net margin of 3.09% and a return on equity of 10.84%. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. Equities research analysts expect that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.