Public Sector Pension Investment Board Boosts Stock Position in Sanmina Corporation (NASDAQ:SANM)

Key Points

• The Public Sector Pension Investment Board has increased its holdings in Sanmina Corporation by 26.5%, owning approximately 172,308 shares, worth around $13.1 million.
• Sanmina reported a quarterly earnings per share (EPS) of $1.53, exceeding analysts' expectations of $1.42, with revenues of $2.04 billion for the quarter, up 10.9% compared to last year.
• Major hedge funds, including Nuveen LLC and Invesco Ltd., have also significantly increased their stakes in Sanmina, with institutional investors now owning 92.71% of the company.

Public Sector Pension Investment Board increased its position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 26.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,308 shares of the electronics maker's stock after purchasing an additional 36,109 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of Sanmina worth $13,126,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SANM. LPL Financial LLC lifted its holdings in shares of Sanmina by 17.9% during the fourth quarter. LPL Financial LLC now owns 17,157 shares of the electronics maker's stock worth $1,298,000 after purchasing an additional 2,607 shares during the period. Bank of Montreal Can grew its holdings in Sanmina by 13.1% during the fourth quarter. Bank of Montreal Can now owns 6,661 shares of the electronics maker's stock worth $504,000 after acquiring an additional 769 shares during the period. Raymond James Financial Inc. acquired a new stake in Sanmina during the fourth quarter worth about $2,644,000. Sterling Capital Management LLC grew its holdings 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 period. Finally, Summit Investment Advisors Inc. grew its holdings in Sanmina by 2.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,620 shares of the electronics maker's stock worth $425,000 after acquiring an additional 121 shares during the period. Institutional investors and hedge funds own 92.71% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America raised their target price on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Wall Street Zen cut shares of Sanmina from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th.

Sanmina Price Performance

SANM stock traded down $3.54 during mid-day trading on Thursday, reaching $116.80. 486,444 shares of the company's stock were exchanged, compared to its average volume of 998,934. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.14. The stock's 50 day moving average is $102.27 and its 200 day moving average is $88.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21. Sanmina Corporation has a 12-month low of $62.76 and a 12-month high of $125.76.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.11. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.98 billion. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. Sanmina's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, research analysts expect that Sanmina Corporation will post 5.15 EPS for the current 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.