Assetmark Inc. Has $5.64 Million Position in Sanmina Co. (NASDAQ:SANM)

Assetmark Inc. raised its holdings in shares of Sanmina Co. (NASDAQ:SANM) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,442 shares of the electronics maker’s stock after purchasing an additional 7,610 shares during the quarter. Assetmark Inc. owned approximately 0.15% of Sanmina worth $5,643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Sanmina by 26.4% during the first quarter. Janney Montgomery Scott LLC now owns 13,627 shares of the electronics maker’s stock worth $847,000 after acquiring an additional 2,849 shares during the period. SG Americas Securities LLC acquired a new position in Sanmina in the 1st quarter valued at $404,000. Russell Investments Group Ltd. increased its position in Sanmina by 107.5% during the 1st quarter. Russell Investments Group Ltd. now owns 37,341 shares of the electronics maker’s stock worth $2,322,000 after buying an additional 19,349 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Sanmina by 4.5% during the first quarter. ProShare Advisors LLC now owns 11,621 shares of the electronics maker’s stock worth $723,000 after buying an additional 496 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Sanmina by 20.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 19,972 shares of the electronics maker’s stock valued at $1,218,000 after acquiring an additional 3,394 shares during the period. 92.71% of the stock is owned by institutional investors.

Sanmina Trading Up 0.1 %

SANM opened at $83.38 on Tuesday. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.34 and a beta of 0.89. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.13. Sanmina Co. has a twelve month low of $47.03 and a twelve month high of $86.05. The company has a 50-day simple moving average of $68.68 and a 200 day simple moving average of $68.08.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. Sanmina had a net margin of 2.94% and a return on equity of 10.47%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts predict that Sanmina Co. will post 5.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on SANM. Craig Hallum lifted their price objective on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Sanmina from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th.

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.