Verition Fund Management LLC Invests $425,000 in Sanmina Co. (NASDAQ:SANM)

Verition Fund Management LLC purchased a new stake in shares of Sanmina Co. (NASDAQ:SANM - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,205 shares of the electronics maker's stock, valued at approximately $425,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. 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 lifted its position in Sanmina by 5.1% during the third quarter. TFG Advisers LLC now owns 4,179 shares of the electronics maker's stock valued at $286,000 after purchasing an additional 203 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Sanmina by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 11,881 shares of the electronics maker's stock valued at $787,000 after purchasing an additional 224 shares during the period. Atomi Financial Group Inc. increased its position in Sanmina by 5.0% in the third quarter. Atomi Financial Group Inc. now owns 4,788 shares of the electronics maker's stock worth $328,000 after buying an additional 226 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Sanmina by 8.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,571 shares of the electronics maker's stock worth $237,000 after acquiring an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company's stock.

Sanmina Trading Down 1.1 %

Shares of NASDAQ:SANM traded down $0.91 on Friday, hitting $80.05. 428,011 shares of the company's stock were exchanged, compared to its average volume of 417,778. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91. 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 Co. has a 12 month low of $48.83 and a 12 month high of $86.05. The business's 50 day simple moving average is $74.39 and its two-hundred day simple moving average is $70.44.

Sanmina (NASDAQ:SANM - Get Free Report) last issued its earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, topping 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 business had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the prior year, the business earned $1.20 EPS. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts anticipate that Sanmina Co. will post 4.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SANM. Craig Hallum boosted 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. StockNews.com upgraded shares of Sanmina from a "hold" rating to a "buy" rating in a research report 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.