Picton Mahoney Asset Management Buys 5,671 Shares of Sanmina Corporation (NASDAQ:SANM)

Key Points

• Picton Mahoney Asset Management significantly increased its stake in Sanmina Corporation by over 33,358.8% during the first quarter, now holding 5,688 shares valued at approximately $433,000.
• Sanmina reported a better-than-expected quarterly earnings of $1.53 per share, beating the consensus estimate of $1.42, with revenues of $2.04 billion for the quarter.
• Analysts have raised their price targets for Sanmina, with Bank of America increasing its target from $100.00 to $120.00 and reaffirming a "neutral" rating.

Picton Mahoney Asset Management boosted its position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 33,358.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,688 shares of the electronics maker's stock after purchasing an additional 5,671 shares during the period. Picton Mahoney Asset Management's holdings in Sanmina were worth $433,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its position 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 buying an additional 121 shares in the last quarter. Mariner LLC grew its position in Sanmina by 3.5% during the fourth quarter. Mariner LLC now owns 4,510 shares of the electronics maker's stock worth $341,000 after buying an additional 152 shares in the last quarter. Xponance Inc. grew its position in Sanmina by 3.4% during the first quarter. Xponance Inc. now owns 4,687 shares of the electronics maker's stock worth $357,000 after buying an additional 152 shares in the last quarter. SummerHaven Investment Management LLC grew its position in Sanmina by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 11,709 shares of the electronics maker's stock worth $892,000 after buying an additional 172 shares in the last quarter. Finally, Kendall Capital Management grew its position in Sanmina by 3.1% during the first quarter. Kendall Capital Management now owns 6,395 shares of the electronics maker's stock worth $487,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company's stock.

Sanmina Price Performance

Shares of SANM traded down $5.08 on Friday, hitting $110.96. The company's stock had a trading volume of 1,826,938 shares, compared to its average volume of 801,562. The company has a market capitalization of $5.91 billion, a PE ratio of 23.76, a PEG ratio of 1.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.22. Sanmina Corporation has a fifty-two week low of $61.52 and a fifty-two week high of $121.70. The company has a 50 day moving average price of $96.28 and a 200 day moving average price of $85.81.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its 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. The business 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 was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. On average, research analysts anticipate that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Bank of America lifted their target price on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

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.