Edgestream Partners L.P. Invests $876,000 in Sanmina Co. (NASDAQ:SANM)

Edgestream Partners L.P. purchased a new stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,804 shares of the electronics maker's stock, valued at approximately $876,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in shares of Sanmina by 5.0% during the third quarter. FMR LLC now owns 1,715,767 shares of the electronics maker's stock worth $117,444,000 after purchasing an additional 82,409 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Sanmina by 8.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker's stock valued at $77,399,000 after acquiring an additional 86,492 shares during the period. Global Alpha Capital Management Ltd. raised its position in shares of Sanmina by 19.4% during the 3rd 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 during the period. American Century Companies Inc. lifted its stake in Sanmina by 14.0% in the second quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker's stock valued at $57,977,000 after buying an additional 107,474 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Sanmina by 11.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 578,458 shares of the electronics maker's stock worth $38,323,000 after acquiring an additional 59,849 shares during the period. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Stock Performance

NASDAQ:SANM traded down $0.33 during midday trading on Thursday, reaching $79.13. The stock had a trading volume of 291,317 shares, compared to its average volume of 421,048. The stock has a market capitalization of $4.27 billion, a P/E ratio of 20.32, a PEG ratio of 1.35 and a beta of 0.91. The firm's fifty day simple moving average is $72.96 and its 200-day simple moving average is $69.95. Sanmina Co. has a 1-year low of $48.83 and a 1-year high of $86.05. 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 results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping the consensus estimate 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 company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 EPS. On average, equities research analysts forecast that Sanmina Co. will post 4.84 EPS for the current fiscal year.

Analysts Set New Price Targets

SANM has been the topic of several analyst reports. Craig Hallum lifted their target price 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. StockNews.com upgraded shares of Sanmina from a "hold" rating to a "buy" rating in a research note on Thursday, November 21st.

Sanmina Company 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.