Assetmark Inc. grew its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 10.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 82,442 shares of the electronics maker's stock after acquiring an additional 7,610 shares during the period. Assetmark Inc. owned about 0.15% of Sanmina worth $5,643,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Sanmina by 108.4% in the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker's stock valued at $33,000 after purchasing an additional 257 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Sanmina by 24.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker's stock worth $56,000 after buying an additional 164 shares during the last quarter. Innealta Capital LLC purchased a new position in Sanmina during the second quarter worth about $116,000. CWM LLC grew its stake in Sanmina by 40.5% in the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker's stock worth $122,000 after buying an additional 513 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Sanmina by 16.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,129 shares of the electronics maker's stock valued at $146,000 after buying an additional 299 shares during the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on SANM. Craig Hallum increased their price objective on shares of Sanmina from $62.00 to $69.00 and gave the stock a "hold" rating in a research note on Tuesday, November 5th. StockNews.com upgraded Sanmina from a "hold" rating to a "buy" rating in a report on Thursday, November 7th.
Read Our Latest Stock Analysis on SANM
Sanmina Stock Performance
Shares of NASDAQ SANM traded down $2.63 during mid-day trading on Tuesday, hitting $80.75. The company had a trading volume of 440,328 shares, compared to its average volume of 429,094. The firm's 50 day simple moving average is $68.96 and its two-hundred day simple moving average is $68.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.05 and a quick ratio of 1.27. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 1.34 and a beta of 0.89. Sanmina Co. has a 12 month low of $47.03 and a 12 month high of $86.05.
Sanmina (NASDAQ:SANM - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.07. The business had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $1.96 billion. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. Sanmina's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 earnings per share. As a group, equities research analysts forecast that Sanmina Co. will post 5.07 earnings per share for the current year.
About Sanmina
(
Free Report)
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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