KBC Group NV Raises Holdings in Sanmina Co. (NASDAQ:SANM)

KBC Group NV raised its stake in Sanmina Co. (NASDAQ:SANM) by 25.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,811 shares of the electronics maker’s stock after buying an additional 368 shares during the quarter. KBC Group NV’s holdings in Sanmina were worth $124,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in Sanmina by 107.5% during the 1st quarter. Russell Investments Group Ltd. now owns 37,341 shares of the electronics maker’s stock valued at $2,322,000 after acquiring an additional 19,349 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Sanmina by 20.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,972 shares of the electronics maker’s stock worth $1,218,000 after buying an additional 3,394 shares during the period. Vanguard Group Inc. lifted its holdings in Sanmina by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,154,640 shares of the electronics maker’s stock worth $444,876,000 after buying an additional 45,918 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Sanmina by 2.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 21,369 shares of the electronics maker’s stock valued at $1,329,000 after buying an additional 594 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Sanmina in the first quarter worth $741,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SANM. StockNews.com upgraded Sanmina from a “hold” rating to a “buy” rating in a research note on Thursday. Craig Hallum lifted their price objective on Sanmina from $62.00 to $69.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th.

Sanmina Stock Up 2.5 %

Shares of NASDAQ SANM opened at $79.52 on Friday. The business has a 50-day moving average of $70.75 and a two-hundred day moving average of $68.96. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.30 and a beta of 0.89. 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 2.05 and a quick ratio of 1.32.

Sanmina (NASDAQ:SANM) last announced its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 earnings per share. On average, analysts forecast that Sanmina Co. will post 4.84 earnings per share for the current fiscal 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.