MQS Management LLC Buys Shares of 2,518 Sanmina Corporation $SANM

MQS Management LLC bought a new stake in shares of Sanmina Corporation (NASDAQ:SANM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,518 shares of the electronics maker’s stock, valued at approximately $246,000.

Several other institutional investors have also added to or reduced their stakes in SANM. GAMMA Investing LLC boosted its stake in shares of Sanmina by 34.1% in the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker’s stock worth $131,000 after buying an additional 437 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Sanmina by 10.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,210 shares of the electronics maker’s stock worth $397,000 after buying an additional 476 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Sanmina in the 2nd quarter worth $234,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Sanmina in the 2nd quarter worth $1,693,000. Finally, New York State Teachers Retirement System boosted its stake in shares of Sanmina by 15.5% in the 2nd quarter. New York State Teachers Retirement System now owns 37,766 shares of the electronics maker’s stock worth $3,695,000 after buying an additional 5,066 shares during the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SANM shares. Weiss Ratings restated a “buy (b)” rating on shares of Sanmina in a research note on Wednesday, October 8th. Bank of America raised their target price on Sanmina from $100.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Finally, Wall Street Zen cut Sanmina from a “strong-buy” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $94.50.

Sanmina Price Performance

Shares of Sanmina stock opened at $134.96 on Tuesday. The stock’s 50-day simple moving average is $121.02 and its 200-day simple moving average is $102.91. Sanmina Corporation has a 52 week low of $63.67 and a 52 week high of $160.25. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 1.38 and a beta of 1.19. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.12.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, July 28th. The electronics maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.42 by $0.11. Sanmina had a return on equity of 11.30% and a net margin of 3.22%.The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. As a group, analysts expect that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

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.