MQS Management LLC Invests $246,000 in Sanmina Corporation $SANM

MQS Management LLC bought a new position in Sanmina Corporation (NASDAQ:SANM) during the 2nd quarter, Holdings Channel reports. The fund bought 2,518 shares of the electronics maker’s stock, valued at approximately $246,000.

Several other large investors have also recently made changes to their positions in SANM. GAMMA Investing LLC increased its holdings in shares of Sanmina by 34.1% in the first quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker’s stock worth $131,000 after purchasing an additional 437 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sanmina by 10.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,210 shares of the electronics maker’s stock worth $397,000 after purchasing an additional 476 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Sanmina by 87.4% in the first quarter. Janney Montgomery Scott LLC now owns 10,311 shares of the electronics maker’s stock worth $785,000 after purchasing an additional 4,810 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Sanmina by 3.9% in the first quarter. Illinois Municipal Retirement Fund now owns 29,982 shares of the electronics maker’s stock worth $2,284,000 after purchasing an additional 1,133 shares during the last quarter. Finally, Highland Capital Management LLC bought a new stake in shares of Sanmina in the first quarter worth about $251,000. 92.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SANM. Bank of America lifted 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. Weiss Ratings reissued a “buy (b)” rating on shares of Sanmina in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.50.

Sanmina Stock Up 0.9%

Shares of NASDAQ:SANM opened at $134.96 on Tuesday. Sanmina Corporation has a 1 year low of $63.67 and a 1 year high of $160.25. The business has a 50 day simple moving average of $121.02 and a two-hundred day simple moving average of $102.91. The firm has a market capitalization of $7.19 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.21.

Sanmina (NASDAQ:SANM) last announced its earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share (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 during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts predict that Sanmina Corporation will post 5.15 EPS for the current 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.