Allianz Asset Management GmbH Purchases 51,432 Shares of Sanmina Corporation (NASDAQ:SANM)

Allianz Asset Management GmbH lifted its stake in Sanmina Corporation (NASDAQ:SANM - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 715,355 shares of the electronics maker's stock after acquiring an additional 51,432 shares during the period. Allianz Asset Management GmbH owned approximately 1.34% of Sanmina worth $54,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SANM. Summit Investment Advisors Inc. boosted its stake 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 boosted its stake 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. boosted its stake 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 boosted its stake 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 boosted its stake 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 NASDAQ SANM traded up $2.79 during midday trading on Friday, reaching $98.58. 792,392 shares of the company traded hands, compared to its average volume of 561,099. The firm has a market cap of $5.27 billion, a PE ratio of 22.82, a PEG ratio of 1.52 and a beta of 1.17. The stock's 50-day simple moving average is $93.33 and its 200-day simple moving average is $84.68. Sanmina Corporation has a 12 month low of $61.52 and a 12 month high of $107.03. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.22 and a current ratio of 1.96.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. Sanmina had a return on equity of 10.84% and a net margin of 3.09%. The business's revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned $1.30 earnings per share. As a group, equities analysts anticipate that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.