Royce & Associates LP Reduces Stock Position in Sanmina Corporation (NASDAQ:SANM)

Royce & Associates LP decreased its holdings in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 390,975 shares of the electronics maker's stock after selling 23,918 shares during the period. Royce & Associates LP owned approximately 0.73% of Sanmina worth $29,784,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 437 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Sanmina by 10.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,210 shares of the electronics maker's stock worth $397,000 after buying an additional 476 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Sanmina by 87.4% during the first quarter. Janney Montgomery Scott LLC now owns 10,311 shares of the electronics maker's stock worth $785,000 after buying an additional 4,810 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sanmina by 32.4% during the fourth quarter. JPMorgan Chase & Co. now owns 675,191 shares of the electronics maker's stock worth $51,092,000 after buying an additional 165,285 shares during the period. Finally, Squarepoint Ops LLC lifted its position in Sanmina by 60.0% in the fourth quarter. Squarepoint Ops LLC now owns 40,546 shares of the electronics maker's stock valued at $3,068,000 after purchasing an additional 15,197 shares during the period. Institutional investors and hedge funds own 92.71% of the company's stock.

Sanmina Stock Performance

NASDAQ:SANM traded down $0.23 during mid-day trading on Monday, reaching $98.35. The stock had a trading volume of 847,322 shares, compared to its average volume of 454,689. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.22 and a current ratio of 1.96. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.52 and a beta of 1.17. Sanmina Corporation has a twelve month low of $61.52 and a twelve month high of $107.03. The business has a 50 day simple moving average of $93.33 and a 200 day simple moving average of $84.74.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) 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 company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the company posted $1.30 earnings per share. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts expect that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SANM shares. Bank of America raised 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, July 11th. Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th.

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.