Geode Capital Management LLC Raises Stock Position in Sanmina Co. (NASDAQ:SANM)

Geode Capital Management LLC raised its position in Sanmina Co. (NASDAQ:SANM) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,515,128 shares of the electronics maker’s stock after purchasing an additional 35,622 shares during the quarter. Geode Capital Management LLC owned about 2.77% of Sanmina worth $103,727,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Sanmina by 24.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after acquiring an additional 164 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Sanmina by 88.5% in the 3rd 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 last quarter. Innealta Capital LLC purchased a new position in shares of Sanmina during the 2nd quarter worth $116,000. CWM LLC increased its position in shares of Sanmina by 40.5% during the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock worth $122,000 after purchasing an additional 513 shares during the last quarter. Finally, KBC Group NV raised its holdings in Sanmina by 25.5% in the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

SANM has been the subject of a number of recent analyst reports. Craig Hallum lifted their price target 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. StockNews.com upgraded shares of Sanmina from a “hold” rating to a “buy” rating in a report on Thursday, November 21st.

Sanmina Stock Down 1.2 %

Shares of NASDAQ:SANM opened at $78.34 on Thursday. The firm has a market capitalization of $4.22 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91. Sanmina Co. has a 1 year low of $48.83 and a 1 year 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. The firm’s 50-day moving average is $75.38 and its two-hundred day moving average is $70.78.

Sanmina (NASDAQ:SANM) last announced 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 net margin of 2.94% and a return on equity of 10.47%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts predict that Sanmina Co. will post 4.84 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.