Wedge Capital Management L L P NC Has $2.27 Million Stake in Sanmina Co. (NASDAQ:SANM)

Wedge Capital Management L L P NC lessened its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 47.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,767 shares of the electronics maker’s stock after selling 26,451 shares during the period. Wedge Capital Management L L P NC owned about 0.05% of Sanmina worth $2,268,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sanmina during the fourth quarter worth approximately $90,000. Principal Securities Inc. grew its holdings in shares of Sanmina by 13.6% during the 4th quarter. Principal Securities Inc. now owns 1,388 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 166 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker’s stock worth $108,000 after purchasing an additional 1,056 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Sanmina by 843.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker’s stock worth $131,000 after purchasing an additional 1,543 shares during the period. Finally, First Bank & Trust acquired a new position in Sanmina in the fourth quarter valued at about $208,000. 92.71% of the stock is owned by institutional investors.

Sanmina Stock Performance

NASDAQ:SANM opened at $87.91 on Tuesday. Sanmina Co. has a twelve month low of $61.52 and a twelve month high of $91.12. The company has a quick ratio of 1.30, a current ratio of 2.06 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $79.91 and its 200 day simple moving average is $80.21. The firm has a market capitalization of $4.70 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.03. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Sanmina had a net margin of 2.99% and a return on equity of 10.61%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $1.30 EPS. On average, analysts anticipate that Sanmina Co. will post 5.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on SANM. Bank of America raised their target price on shares of Sanmina from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday. Wall Street Zen raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 24th.

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.