Charles Schwab Investment Management Inc. Lowers Position in Sanmina Co. (NASDAQ:SANM)

Charles Schwab Investment Management Inc. cut its stake in Sanmina Co. (NASDAQ:SANM) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 606,737 shares of the electronics maker’s stock after selling 5,360 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.11% of Sanmina worth $41,531,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments Inc purchased a new stake in Sanmina in the 1st quarter worth approximately $1,005,000. Oppenheimer Asset Management Inc. lifted its holdings in Sanmina by 40.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,692 shares of the electronics maker’s stock worth $2,298,000 after buying an additional 10,000 shares in the last quarter. Caxton Associates LP boosted its stake in shares of Sanmina by 365.9% during the 2nd quarter. Caxton Associates LP now owns 22,276 shares of the electronics maker’s stock valued at $1,476,000 after buying an additional 17,495 shares during the last quarter. Global Alpha Capital Management Ltd. raised its stake in Sanmina by 19.4% during the third quarter. Global Alpha Capital Management Ltd. now owns 922,391 shares of the electronics maker’s stock valued at $63,138,000 after buying an additional 149,600 shares in the last quarter. Finally, Aristides Capital LLC acquired a new stake in Sanmina during the second quarter worth about $267,000. Institutional investors and hedge funds own 92.71% of the company’s stock.

Sanmina Stock Performance

Shares of SANM opened at $80.02 on Tuesday. Sanmina Co. has a 52 week low of $48.83 and a 52 week high of $86.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 2.05. The company has a market capitalization of $4.37 billion, a PE ratio of 20.47, a PEG ratio of 1.34 and a beta of 0.89. The company’s 50 day moving average price is $72.51 and its 200 day moving average price is $69.79.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com raised Sanmina from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Craig Hallum raised their price objective on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th.

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.