JPMorgan Chase & Co. Acquires 366,653 Shares of Sanmina Co. (NASDAQ:SANM)

JPMorgan Chase & Co. increased its holdings in shares of Sanmina Co. (NASDAQ:SANM - Free Report) by 255.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 509,906 shares of the electronics maker's stock after purchasing an additional 366,653 shares during the period. JPMorgan Chase & Co. owned approximately 0.95% of Sanmina worth $34,903,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Sanmina in the third quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker's stock worth $56,000 after acquiring an additional 164 shares during the period. GAMMA Investing LLC increased its position in shares of Sanmina by 88.5% during the third quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker's stock valued at $64,000 after purchasing an additional 437 shares during the period. CWM LLC increased its position in shares of Sanmina by 40.5% during the third quarter. CWM LLC now owns 1,781 shares of the electronics maker's stock valued at $122,000 after purchasing an additional 513 shares during the period. Finally, KBC Group NV raised its stake in shares of Sanmina by 25.5% in the third 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 in the last quarter. Institutional investors own 92.71% of the company's stock.

Sanmina Price Performance

SANM stock traded up $0.42 during trading on Tuesday, hitting $77.29. The company had a trading volume of 208,963 shares, compared to its average volume of 245,766. The company has a fifty day moving average price of $77.89 and a two-hundred day moving average price of $71.72. Sanmina Co. has a fifty-two week low of $48.83 and a fifty-two week high of $86.05. The company has a market cap of $4.17 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.35 and a beta of 0.91. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts expect that Sanmina Co. will post 4.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SANM. StockNews.com raised shares of Sanmina from a "hold" rating to a "buy" rating in a report on Thursday, November 21st. Craig Hallum upped their target price on shares of Sanmina from $62.00 to $69.00 and gave the company a "hold" rating in a research note on Tuesday, November 5th.

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.