Sanmina Corporation (NASDAQ:SANM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Sanmina Corporation (NASDAQ:SANM - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,727 shares of the electronics maker's stock after selling 6,520 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.18% of Sanmina worth $7,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SANM. FMR LLC raised its position in Sanmina by 14.2% in the fourth 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 during the period. Franklin Resources Inc. raised its position in Sanmina by 39.6% in the fourth quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock valued at $139,407,000 after purchasing an additional 522,534 shares during the period. Geode Capital Management LLC raised its position in Sanmina by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,536,367 shares of the electronics maker's stock valued at $116,277,000 after purchasing an additional 21,239 shares during the period. Earnest Partners LLC raised its position in Sanmina by 1.8% in the fourth quarter. Earnest Partners LLC now owns 1,073,818 shares of the electronics maker's stock valued at $81,256,000 after purchasing an additional 19,144 shares during the period. Finally, Frontier Capital Management Co. LLC raised its position in Sanmina by 9.9% in 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 purchasing an additional 90,627 shares during the period. 92.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SANM. Bank of America raised their price objective on Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Wall Street Zen raised Sanmina from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th.

Sanmina Stock Up 1.1%

Shares of NASDAQ SANM traded up $1.14 during midday trading on Friday, reaching $102.38. 186,529 shares of the company's stock were exchanged, compared to its average volume of 411,946. Sanmina Corporation has a 52-week low of $61.52 and a 52-week high of $103.03. The stock has a market capitalization of $5.47 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. 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 business's fifty day moving average price is $87.03 and its two-hundred day moving average price is $82.05.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.03. Sanmina had a return on equity of 10.84% and a net margin of 3.09%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts forecast that Sanmina Corporation will post 5.15 EPS for the current year.

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.