Franklin Resources Inc. Acquires 79,565 Shares of Sanmina Co. (NASDAQ:SANM)

Franklin Resources Inc. raised its stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,319,768 shares of the electronics maker's stock after buying an additional 79,565 shares during the period. Franklin Resources Inc. owned about 2.41% of Sanmina worth $89,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Sanmina by 24.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker's stock valued at $56,000 after buying an additional 164 shares during the last quarter. TFG Advisers LLC increased its position in Sanmina by 5.1% in the third quarter. TFG Advisers LLC now owns 4,179 shares of the electronics maker's stock worth $286,000 after buying an additional 203 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Sanmina by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 11,881 shares of the electronics maker's stock worth $787,000 after buying an additional 224 shares during the period. Atomi Financial Group Inc. lifted its position in shares of Sanmina by 5.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,788 shares of the electronics maker's stock valued at $328,000 after buying an additional 226 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Sanmina by 8.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,571 shares of the electronics maker's stock valued at $237,000 after acquiring an additional 287 shares during the period. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Sanmina Price Performance

Shares of NASDAQ SANM traded up $0.18 during mid-day trading on Monday, reaching $80.23. The company's stock had a trading volume of 374,035 shares, compared to its average volume of 417,597. The stock has a fifty day moving average of $74.65 and a two-hundred day moving average of $70.57. The firm has a market capitalization of $4.33 billion, a PE ratio of 20.56, a P/E/G ratio of 1.35 and a beta of 0.91. Sanmina Co. has a 52 week low of $48.83 and a 52 week 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 1.25.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings data 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 net margin of 2.94% and a return on equity of 10.47%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $1.20 EPS. The company's revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Sanmina Co. will post 4.84 EPS for the current fiscal year.

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.