JPMorgan Chase & Co. Acquires 366,653 Shares of Sanmina Co. (NASDAQ:SANM)

JPMorgan Chase & Co. raised its stake in Sanmina Co. (NASDAQ:SANM) by 255.9% during the third quarter, HoldingsChannel.com reports. The fund owned 509,906 shares of the electronics maker’s stock after acquiring an additional 366,653 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sanmina were worth $34,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Sanmina in the third quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. boosted its position in Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after buying an additional 164 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Sanmina by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker’s stock valued at $64,000 after buying an additional 437 shares during the period. CWM LLC raised its position in shares of Sanmina by 40.5% during the third quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock worth $122,000 after acquiring an additional 513 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Sanmina by 25.5% during the third quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock valued at $124,000 after acquiring an additional 368 shares during the period. Institutional investors and hedge funds own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Craig Hallum lifted their target price on shares of Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. StockNews.com raised shares of Sanmina from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st.

Sanmina Price Performance

NASDAQ:SANM opened at $76.87 on Tuesday. The stock has a market capitalization of $4.15 billion, a PE ratio of 19.66, a P/E/G ratio of 1.35 and a beta of 0.91. The company has a current ratio of 1.99, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $77.73 and a 200 day simple moving average of $71.65. Sanmina Co. has a 1-year low of $48.83 and a 1-year high of $86.05.

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

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.