Envestnet Asset Management Inc. Trims Stake in Sanmina Corporation (NASDAQ:SANM)

Envestnet Asset Management Inc. decreased its holdings in Sanmina Corporation (NASDAQ:SANM - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,811 shares of the electronics maker's stock after selling 28,138 shares during the quarter. Envestnet Asset Management Inc. owned 0.26% of Sanmina worth $10,879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in Sanmina during the 4th quarter worth $48,823,000. Franklin Resources Inc. boosted its stake in shares of Sanmina by 39.6% in the 4th quarter. Franklin Resources Inc. now owns 1,842,302 shares of the electronics maker's stock valued at $139,407,000 after buying an additional 522,534 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of Sanmina in the 4th quarter valued at about $34,868,000. FMR LLC grew its position in shares of Sanmina by 14.2% during the fourth quarter. FMR LLC now owns 1,959,025 shares of the electronics maker's stock worth $148,239,000 after buying an additional 243,258 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Sanmina during the fourth quarter worth approximately $12,928,000. Hedge funds and other institutional investors own 92.71% of the company's stock.

Sanmina Stock Down 4.8%

Shares of NASDAQ:SANM traded down $4.86 on Thursday, hitting $95.79. 832,762 shares of the company's stock were exchanged, compared to its average volume of 538,428. Sanmina Corporation has a 1-year low of $61.52 and a 1-year high of $107.03. The company has a market capitalization of $5.12 billion, a PE ratio of 22.17, a P/E/G ratio of 1.55 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 firm's 50-day moving average is $93.05 and its 200 day moving average is $84.49.

Sanmina (NASDAQ:SANM - Get Free Report) last announced 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 return on equity of 10.84% and a net margin of 3.09%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the company posted $1.30 earnings per share. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts predict that Sanmina Corporation will post 5.15 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SANM. 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 raised their price objective on shares of Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a report 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.