Sanmina Corporation (NASDAQ:SANM) Shares Bought by Global Alpha Capital Management Ltd.

Key Points

• Global Alpha Capital Management Ltd. increased its stake in Sanmina Corporation by 8.5% in Q1 2023, making it the firm's second largest investment.
• Sanmina reported a 10.9% increase in revenue year-over-year, reaching $2.04 billion during its latest quarter, with EPS of $1.53 surpassing estimates.
• The stock has seen significant interest from institutional investors, with over 92.71% of its shares owned by hedge funds and institutions.

Global Alpha Capital Management Ltd. increased its holdings in Sanmina Corporation (NASDAQ:SANM - Free Report) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 814,691 shares of the electronics maker's stock after acquiring an additional 63,500 shares during the quarter. Sanmina comprises approximately 4.5% of Global Alpha Capital Management Ltd.'s portfolio, making the stock its 2nd biggest position. Global Alpha Capital Management Ltd. owned 1.52% of Sanmina worth $62,063,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SANM. FMR LLC increased its stake in Sanmina by 14.2% during the 4th quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock valued at $148,239,000 after purchasing an additional 243,258 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Sanmina by 1.8% during the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker's stock valued at $81,256,000 after buying an additional 19,144 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Sanmina by 9.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker's stock valued at $76,060,000 after buying an additional 90,627 shares during the last quarter. Northern Trust Corp boosted its position in shares of Sanmina by 8.1% during the fourth quarter. Northern Trust Corp now owns 799,430 shares of the electronics maker's stock valued at $60,493,000 after buying an additional 59,878 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Sanmina by 7.7% during the first quarter. Allianz Asset Management GmbH now owns 715,355 shares of the electronics maker's stock valued at $54,496,000 after buying an additional 51,432 shares during the last quarter. Institutional investors own 92.71% of the company's stock.

Sanmina Trading Up 3.9%

SANM traded up $4.68 during trading hours on Tuesday, reaching $123.84. 950,045 shares of the company's stock traded hands, compared to its average volume of 511,711. The firm has a 50-day moving average price of $101.01 and a 200 day moving average price of $87.55. Sanmina Corporation has a 52-week low of $62.76 and a 52-week high of $124.10. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $6.60 billion, a PE ratio of 26.52, a PEG ratio of 1.78 and a beta of 1.14.

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

Analysts Set New Price Targets

Several brokerages have issued reports on SANM. Wall Street Zen cut Sanmina from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Bank of America lifted their target price on Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday, July 11th.

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.