Nuveen LLC Acquires New Stake in Sanmina Corporation $SANM

Key Points

• Nuveen LLC has made a significant investment of approximately $50.51 million in Sanmina Corporation, acquiring about 663,039 shares, which now represents 1.24% of the company's stock.
• Sanmina reported strong quarterly earnings, posting an EPS of $1.53, exceeding estimates, with revenues increasing by 10.9% year-over-year to $2.04 billion.
• Institutional investors hold approximately 92.71% of Sanmina's stock, indicating strong confidence in the company's future performance.

Nuveen LLC bought a new position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 663,039 shares of the electronics maker's stock, valued at approximately $50,510,000. Nuveen LLC owned 1.24% of Sanmina as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sanmina in the 4th quarter worth $90,000. Meeder Asset Management Inc. purchased a new stake in Sanmina in the 1st quarter worth $90,000. CWM LLC increased its holdings in Sanmina by 26.1% in the 1st quarter. CWM LLC now owns 1,466 shares of the electronics maker's stock worth $112,000 after acquiring an additional 303 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Sanmina by 843.2% in the 4th 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 in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Sanmina by 34.1% in the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock worth $131,000 after acquiring an additional 437 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Bank of America lifted their price target on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Wall Street Zen lowered Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th.

Sanmina Trading Up 0.7%

NASDAQ SANM traded up $0.78 on Monday, reaching $117.76. 177,530 shares of the company were exchanged, compared to its average volume of 511,296. The business's fifty day moving average price is $102.87 and its 200 day moving average price is $88.36. 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 stock has a market capitalization of $6.27 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14. Sanmina Corporation has a fifty-two week low of $62.76 and a fifty-two week high of $125.76.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly 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 11.30% and a net margin of 3.22%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company posted $1.25 EPS. The company's quarterly revenue was up 10.9% on a year-over-year basis. Analysts forecast that Sanmina Corporation will post 5.15 earnings per share for the current year.

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.