PNC Financial Services Group Inc. Has $441,000 Stake in Sanmina Corporation (NASDAQ:SANM)

PNC Financial Services Group Inc. reduced its position in shares of Sanmina Corporation (NASDAQ:SANM) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,795 shares of the electronics maker’s stock after selling 205 shares during the period. PNC Financial Services Group Inc.’s holdings in Sanmina were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its position in shares of Sanmina by 2.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,620 shares of the electronics maker’s stock worth $425,000 after purchasing an additional 121 shares during the period. XTX Topco Ltd increased its holdings in Sanmina by 1.2% in the 1st quarter. XTX Topco Ltd now owns 11,886 shares of the electronics maker’s stock worth $905,000 after acquiring an additional 140 shares during the last quarter. Mariner LLC increased its holdings in Sanmina by 3.5% in the 4th quarter. Mariner LLC now owns 4,510 shares of the electronics maker’s stock worth $341,000 after acquiring an additional 152 shares during the last quarter. Xponance Inc. boosted its stake in Sanmina by 3.4% in the 1st quarter. Xponance Inc. now owns 4,687 shares of the electronics maker’s stock worth $357,000 after purchasing an additional 152 shares during the period. Finally, SummerHaven Investment Management LLC boosted its stake in Sanmina by 1.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 11,709 shares of the electronics maker’s stock worth $892,000 after purchasing an additional 172 shares during the period. 92.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SANM shares. Bank of America lifted their price target 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 cut Sanmina from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th.

Sanmina Price Performance

SANM opened at $116.80 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.91. Sanmina Corporation has a 52-week low of $62.76 and a 52-week high of $125.76. The stock has a market capitalization of $6.22 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.14. The stock’s 50 day moving average price is $102.27 and its 200-day moving average price is $88.04.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 28th. The electronics maker reported $1.53 earnings per share 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 company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. On average, equities research analysts predict that Sanmina Corporation will post 5.15 EPS for the current 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.