Vanguard Group Inc. Decreases Holdings in Sanmina Corporation (NASDAQ:SANM)

Key Points

• Vanguard Group Inc. has reduced its stake in Sanmina Corporation by 0.4%, owning 7,385,064 shares after selling 32,298 shares, representing approximately 13.81% of the company.
• Sanmina reported quarterly earnings of $1.53 per share, exceeding analyst expectations, and a revenue of $2.04 billion, which is a 10.9% increase year-over-year.
• Despite some investment reductions, several larger funds, such as Millennium Management LLC and GAMMA Investing LLC, have increased their holdings significantly in recent months.

Vanguard Group Inc. trimmed its position in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 0.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,385,064 shares of the electronics maker's stock after selling 32,298 shares during the period. Vanguard Group Inc. owned about 13.81% of Sanmina worth $562,594,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SANM. Alyeska Investment Group L.P. purchased a new position in shares of Sanmina during the 4th quarter valued at about $34,868,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Sanmina during the 4th quarter valued at about $12,928,000. GAMMA Investing LLC raised its holdings in shares of Sanmina by 10,112.8% during the 1st quarter. GAMMA Investing LLC now owns 131,030 shares of the electronics maker's stock valued at $9,982,000 after buying an additional 129,747 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Sanmina by 38.6% during the 4th quarter. Millennium Management LLC now owns 406,862 shares of the electronics maker's stock valued at $30,787,000 after buying an additional 113,314 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Sanmina by 9.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,005,158 shares of the electronics maker's stock valued at $76,060,000 after buying an additional 90,627 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Price Performance

SANM opened at $120.34 on Thursday. The stock's 50 day simple moving average is $101.66 and its 200 day simple moving average is $87.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21. Sanmina Corporation has a 1 year low of $62.76 and a 1 year high of $125.76. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.81 and a beta of 1.14.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.11. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $1.25 EPS. Sanmina's revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, analysts predict that Sanmina Corporation will post 5.15 earnings per share for the current year.

Wall Street Analyst Weigh In

SANM has been the topic of a number of research reports. Wall Street Zen cut Sanmina from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Bank of America raised their price target on Sanmina from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th.

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.

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