Allworth Financial LP Has $604,000 Position in Sanmina Corporation (NASDAQ:SANM)

Allworth Financial LP raised its position in Sanmina Corporation (NASDAQ:SANM - Free Report) by 1,906.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,526 shares of the electronics maker's stock after purchasing an additional 7,151 shares during the quarter. Allworth Financial LP's holdings in Sanmina were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. 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 valued at $425,000 after buying an additional 121 shares in the last quarter. Mariner LLC lifted its holdings in Sanmina by 3.5% in the 4th quarter. Mariner LLC now owns 4,510 shares of the electronics maker's stock valued at $341,000 after acquiring an additional 152 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Sanmina by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 11,709 shares of the electronics maker's stock valued at $892,000 after purchasing an additional 172 shares in the last quarter. Kendall Capital Management grew its stake in shares of Sanmina by 3.1% in the 1st quarter. Kendall Capital Management now owns 6,395 shares of the electronics maker's stock worth $487,000 after purchasing an additional 190 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Sanmina by 1.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,429 shares of the electronics maker's stock worth $865,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 92.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SANM. Wall Street Zen upgraded shares of Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Bank of America raised their price objective on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Friday.

Sanmina Trading Up 0.7%

NASDAQ SANM traded up $0.75 on Monday, hitting $104.92. 473,126 shares of the company were exchanged, compared to its average volume of 436,742. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 1.22. Sanmina Corporation has a twelve month low of $61.52 and a twelve month high of $105.74. The firm has a market capitalization of $5.61 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The company's 50 day moving average price is $89.43 and its 200-day moving average price is $82.98.

Sanmina (NASDAQ:SANM - Get Free Report) last released its quarterly 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 business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. The firm's revenue was up 8.1% compared to the same quarter last year. Analysts predict that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

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.