Fmr LLC Buys 82,409 Shares of Sanmina Co. (NASDAQ:SANM)

FMR LLC grew its position in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,715,767 shares of the electronics maker's stock after acquiring an additional 82,409 shares during the quarter. FMR LLC owned about 3.14% of Sanmina worth $117,444,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Citigroup Inc. increased its stake in shares of Sanmina by 64.6% during the third quarter. Citigroup Inc. now owns 73,938 shares of the electronics maker's stock valued at $5,061,000 after acquiring an additional 29,028 shares during the period. Atria Investments Inc acquired a new position in Sanmina during the first quarter worth about $1,005,000. Dynamic Technology Lab Private Ltd bought a new stake in Sanmina in the third quarter worth about $2,224,000. Oppenheimer Asset Management Inc. lifted its holdings in Sanmina by 40.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,692 shares of the electronics maker's stock valued at $2,298,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Caxton Associates LP boosted its position in shares of Sanmina by 365.9% during the 2nd quarter. Caxton Associates LP now owns 22,276 shares of the electronics maker's stock valued at $1,476,000 after purchasing an additional 17,495 shares in the last quarter. Institutional investors own 92.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SANM shares. StockNews.com upgraded shares of Sanmina from a "hold" rating to a "buy" rating in a report on Thursday, November 21st. Craig Hallum increased their price objective on Sanmina from $62.00 to $69.00 and gave the company a "hold" rating in a research report on Tuesday, November 5th.

Sanmina Stock Down 0.4 %

Shares of NASDAQ:SANM traded down $0.33 during trading on Thursday, reaching $79.13. 289,831 shares of the company traded hands, compared to its average volume of 421,054. The firm has a fifty day simple moving average of $73.17 and a 200 day simple moving average of $70.01. The company has a quick ratio of 1.32, a current ratio of 1.99 and a debt-to-equity ratio of 0.13. Sanmina Co. has a 1-year low of $48.83 and a 1-year high of $86.05. The firm has a market cap of $4.27 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91.

Sanmina (NASDAQ:SANM - Get Free Report) last posted its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, beating the consensus estimate 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 period last year, the company earned $1.20 earnings per share. The business's revenue was down 1.6% compared to the same quarter last year. Analysts anticipate that Sanmina Co. will post 4.84 earnings per share for the current fiscal year.

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.