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 boosted its position in Sanmina Corporation (NASDAQ:SANM - Free Report) by 26.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 172,308 shares of the electronics maker's stock after acquiring an additional 36,109 shares during the period. Public Sector Pension Investment Board owned 0.32% of Sanmina worth $13,126,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SANM. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sanmina in the fourth quarter worth approximately $90,000. Meeder Asset Management Inc. purchased a new stake in Sanmina during the first quarter valued at $90,000. CWM LLC raised its stake in shares of Sanmina by 26.1% in the first quarter. CWM LLC now owns 1,466 shares of the electronics maker's stock valued at $112,000 after acquiring an additional 303 shares during the period. Sterling Capital Management LLC raised its stake in shares of Sanmina by 843.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock valued at $131,000 after acquiring an additional 1,543 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Sanmina by 34.1% in the first quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock worth $131,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 92.71% of the company's stock.

Wall Street Analysts Forecast Growth

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

Sanmina Stock Performance

Shares of SANM stock traded up $0.18 during trading hours on Friday, hitting $116.98. The stock had a trading volume of 524,152 shares, compared to its average volume of 979,063. The firm has a market capitalization of $6.23 billion, a PE ratio of 25.05, a PEG ratio of 1.71 and a beta of 1.14. Sanmina Corporation has a twelve month low of $62.76 and a twelve month high of $125.76. The stock's 50 day moving average is $102.87 and its 200 day moving average is $88.33. 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 (NASDAQ:SANM - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company's quarterly revenue was up 10.9% compared to the same quarter last year. As a group, research analysts forecast that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

Sanmina Company 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.