Jennison Associates LLC Lowers Stock Holdings in Sanmina Corporation (NASDAQ:SANM)

Jennison Associates LLC decreased its stake in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 19.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,461 shares of the electronics maker's stock after selling 5,096 shares during the period. Jennison Associates LLC's holdings in Sanmina were worth $1,635,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SANM. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sanmina during the fourth quarter worth about $90,000. CWM LLC boosted its stake in Sanmina by 26.1% during the first quarter. CWM LLC now owns 1,466 shares of the electronics maker's stock worth $112,000 after acquiring an additional 303 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Sanmina by 843.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock worth $131,000 after acquiring an additional 1,543 shares in the last quarter. GAMMA Investing LLC boosted its stake in Sanmina by 34.1% during the first quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock worth $131,000 after acquiring an additional 437 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Sanmina by 15.5% during the first quarter. Nisa Investment Advisors LLC now owns 2,542 shares of the electronics maker's stock worth $194,000 after acquiring an additional 342 shares in the last quarter. Institutional investors own 92.71% of the company's stock.

Sanmina Stock Performance

SANM traded down $3.67 during trading on Thursday, hitting $96.98. The company's stock had a trading volume of 407,494 shares, compared to its average volume of 446,061. The business's 50 day simple moving average is $92.81 and its 200-day simple moving average is $84.36. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.18 billion, a PE ratio of 22.48, a P/E/G ratio of 1.53 and a beta of 1.17. Sanmina Corporation has a one year low of $61.52 and a one year high of $107.03.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.03. The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. Sanmina had a net margin of 3.09% and a return on equity of 10.84%. The business's revenue was up 8.1% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. As a group, sell-side analysts predict that Sanmina Corporation will post 5.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on SANM. Wall Street Zen raised shares of Sanmina from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Bank of America boosted their price objective on shares of Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th.

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.