Citigroup Inc. Buys 29,028 Shares of Sanmina Co. (NASDAQ:SANM)

Citigroup Inc. grew its stake in Sanmina Co. (NASDAQ:SANM) by 64.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,938 shares of the electronics maker’s stock after buying an additional 29,028 shares during the quarter. Citigroup Inc. owned approximately 0.14% of Sanmina worth $5,061,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Sanmina Price Performance

Sanmina stock 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 market cap of $4.37 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.34 and a beta of 0.89. The firm’s fifty day moving average is $72.51 and its 200 day moving average is $69.79. The company has a quick ratio of 1.32, a current ratio of 2.05 and a debt-to-equity ratio of 0.13.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. Sanmina had a return on equity of 10.47% and a net margin of 2.94%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business posted $1.20 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast 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.