Sanmina Corporation $SANM Stock Position Lessened by Vanguard Group Inc.

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. cut its holdings in shares of Sanmina Corporation (NASDAQ:SANM - Free Report) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,385,064 shares of the electronics maker's stock after selling 32,298 shares during the period. Vanguard Group Inc. owned 13.81% of Sanmina worth $562,594,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in shares of Sanmina in the first quarter valued at approximately $90,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sanmina during the fourth quarter worth $90,000. CWM LLC boosted its position in shares of Sanmina by 26.1% in the 1st quarter. CWM LLC now owns 1,466 shares of the electronics maker's stock worth $112,000 after buying an additional 303 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Sanmina by 34.1% in the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock worth $131,000 after buying an additional 437 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Sanmina by 843.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock worth $131,000 after buying an additional 1,543 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Trading Up 0.3%

NASDAQ:SANM traded up $0.31 during trading hours on Monday, reaching $117.29. 117,878 shares of the company were exchanged, compared to its average volume of 510,871. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.71 and a beta of 1.14. Sanmina Corporation has a 52-week low of $62.76 and a 52-week high of $125.76. The stock has a 50 day simple moving average of $102.87 and a 200 day simple moving average of $88.36.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SANM shares. Bank of America upped their target price on Sanmina from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Wall Street Zen lowered Sanmina from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th.

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.