Tidal Investments LLC Makes New Investment in Sanmina Co. (NASDAQ:SANM)

Tidal Investments LLC acquired a new stake in Sanmina Co. (NASDAQ:SANM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,887 shares of the electronics maker’s stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Weiss Asset Management LP lifted its position in Sanmina by 590.7% in the third quarter. Weiss Asset Management LP now owns 381,158 shares of the electronics maker’s stock worth $26,090,000 after buying an additional 325,974 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in shares of Sanmina by 19.4% in the 3rd 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 last quarter. Royce & Associates LP boosted its stake in shares of Sanmina by 36.7% during the 3rd quarter. Royce & Associates LP now owns 402,098 shares of the electronics maker’s stock worth $27,524,000 after purchasing an additional 107,906 shares during the period. American Century Companies Inc. grew its holdings in Sanmina by 14.0% during the 2nd quarter. American Century Companies Inc. now owns 875,132 shares of the electronics maker’s stock valued at $57,977,000 after purchasing an additional 107,474 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Sanmina by 8.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,168,289 shares of the electronics maker’s stock worth $77,399,000 after purchasing an additional 86,492 shares during the period. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Stock Performance

SANM stock opened at $77.70 on Wednesday. The firm has a 50-day simple moving average of $75.97 and a two-hundred day simple moving average of $71.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 1.99. Sanmina Co. has a one year low of $48.83 and a one year high of $86.05. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.35 and a beta of 0.91.

Sanmina (NASDAQ:SANM) last released 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 net margin of 2.94% and a return on equity of 10.47%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Sanmina Co. will post 4.84 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Sanmina Company 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.