Meeder Asset Management Inc. Makes New Investment in Sanmina Corporation (NASDAQ:SANM)

Meeder Asset Management Inc. purchased a new position in shares of Sanmina Corporation (NASDAQ:SANM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,178 shares of the electronics maker’s stock, valued at approximately $90,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SANM. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sanmina during the 4th quarter worth approximately $90,000. CWM LLC grew its stake in shares of Sanmina by 26.1% during the 1st quarter. CWM LLC now owns 1,466 shares of the electronics maker’s stock worth $112,000 after purchasing an additional 303 shares during the period. Sterling Capital Management LLC lifted its position in shares of Sanmina by 843.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker’s stock valued at $131,000 after buying an additional 1,543 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Sanmina by 34.1% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker’s stock valued at $131,000 after buying an additional 437 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Sanmina by 15.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,542 shares of the electronics maker’s stock valued at $194,000 after buying an additional 342 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Sanmina Trading Down 4.0%

Shares of NASDAQ:SANM opened at $115.90 on Thursday. The business’s 50 day moving average price is $95.11 and its 200-day moving average price is $85.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.86 and a beta of 1.17. Sanmina Corporation has a 1 year low of $61.52 and a 1 year high of $121.70.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings data on Monday, July 28th. The electronics maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.11. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. Sanmina had a return on equity of 11.30% and a net margin of 3.22%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. On average, equities research analysts forecast that Sanmina Corporation will post 5.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Bank of America increased their target price on Sanmina from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Wall Street Zen upgraded Sanmina from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th.

About Sanmina

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.