Empower Advisory Group LLC Increases Holdings in Sanmina Co. (NASDAQ:SANM)

Empower Advisory Group LLC increased its stake in Sanmina Co. (NASDAQ:SANM) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 262,252 shares of the electronics maker’s stock after purchasing an additional 2,567 shares during the quarter. Empower Advisory Group LLC owned about 0.48% of Sanmina worth $17,951,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SANM. Janney Montgomery Scott LLC grew its position in 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 buying an additional 2,849 shares in the last quarter. SG Americas Securities LLC purchased a new position in Sanmina during the first quarter worth about $404,000. Russell Investments Group Ltd. grew its position in Sanmina by 107.5% during the first 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 in the last quarter. ProShare Advisors LLC grew its position in 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 grew its position in Sanmina by 20.5% during the first 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 in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Sanmina Trading Down 2.7 %

Shares of SANM stock opened at $78.59 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.05 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $69.24 and a two-hundred day moving average price of $68.35. Sanmina Co. has a 12-month low of $48.24 and a 12-month high of $86.05. The firm has a market cap of $4.29 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, November 4th. The electronics maker reported $1.43 earnings per share (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 firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities analysts anticipate that Sanmina Co. will post 4.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. StockNews.com upgraded Sanmina from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Craig Hallum boosted their target price on Sanmina from $62.00 to $69.00 and gave the stock a “hold” rating in a research report 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.