Citigroup Inc. Increases Stake in Sanmina Co. (NASDAQ:SANM)

Citigroup Inc. lifted its holdings in Sanmina Co. (NASDAQ:SANM - Free Report) by 64.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,938 shares of the electronics maker's stock after buying an additional 29,028 shares during the quarter. Citigroup Inc. owned approximately 0.14% of Sanmina worth $5,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its position in Sanmina by 8.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker's stock valued at $77,399,000 after buying an additional 86,492 shares during the period. Global Alpha Capital Management Ltd. grew its stake in Sanmina by 19.4% in the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker's stock worth $63,138,000 after purchasing an additional 149,600 shares in the last quarter. American Century Companies Inc. increased its holdings in Sanmina by 14.0% during the 2nd quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker's stock worth $57,977,000 after purchasing an additional 107,474 shares during the period. Bank of New York Mellon Corp raised its position in Sanmina by 11.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker's stock valued at $38,323,000 after purchasing an additional 59,849 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Sanmina by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 406,994 shares of the electronics maker's stock valued at $27,859,000 after purchasing an additional 3,591 shares in the last quarter. 92.71% of the stock is owned by institutional investors.

Sanmina Stock Down 0.0 %

NASDAQ SANM traded down $0.04 during midday trading on Tuesday, hitting $79.98. 443,749 shares of the company traded hands, compared to its average volume of 421,795. Sanmina Co. has a 52 week low of $48.83 and a 52 week high of $86.05. The company's 50-day simple moving average is $72.72 and its 200-day simple moving average is $69.88. The company has a market cap of $4.31 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.99 and a quick ratio of 1.32.

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, beating analysts' consensus estimates of $1.36 by $0.07. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. As a group, equities research analysts forecast that Sanmina Co. will post 4.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SANM shares. StockNews.com raised Sanmina from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Craig Hallum increased their target price on shares of Sanmina from $62.00 to $69.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th.

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.