Cornercap Investment Counsel Inc. acquired a new position in Sanmina Co. (NASDAQ:SANM - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,578 shares of the electronics maker's stock, valued at approximately $519,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. increased its position in shares of Sanmina by 12.9% during the third quarter. Nicola Wealth Management LTD. now owns 61,100 shares of the electronics maker's stock valued at $4,182,000 after acquiring an additional 7,000 shares during the last quarter. KBC Group NV increased its holdings in Sanmina by 25.5% in the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker's stock valued at $124,000 after purchasing an additional 368 shares during the last quarter. Empower Advisory Group LLC raised its position in Sanmina by 1.0% in the third quarter. Empower Advisory Group LLC now owns 262,252 shares of the electronics maker's stock valued at $17,951,000 after purchasing an additional 2,567 shares during the period. Victory Capital Management Inc. lifted its stake in Sanmina by 0.9% during the third quarter. Victory Capital Management Inc. now owns 406,994 shares of the electronics maker's stock worth $27,859,000 after purchasing an additional 3,591 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Sanmina by 2.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 28,598 shares of the electronics maker's stock worth $1,958,000 after buying an additional 777 shares during the period. Institutional investors and hedge funds own 92.71% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. StockNews.com upgraded Sanmina from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Craig Hallum increased their price target on shares of Sanmina from $62.00 to $69.00 and gave the stock a "hold" rating in a research report on Tuesday, November 5th.
Read Our Latest Stock Analysis on SANM
Sanmina Stock Down 0.9 %
Shares of NASDAQ SANM traded down $0.69 during mid-day trading on Friday, hitting $76.96. The company had a trading volume of 238,874 shares, compared to its average volume of 447,210. The company has a market capitalization of $4.21 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.30 and a beta of 0.89. The business's 50-day simple moving average is $69.97 and its 200 day simple moving average is $68.63. Sanmina Co. has a 1-year low of $48.58 and a 1-year high of $86.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.05 and a quick ratio of 1.32.
Sanmina (NASDAQ:SANM - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company earned $1.20 EPS. Sanmina's revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that Sanmina Co. will post 4.84 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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