Cornercap Investment Counsel Inc. Invests $519,000 in Sanmina Co. (NASDAQ:SANM)

Cornercap Investment Counsel Inc. purchased a new position in Sanmina Co. (NASDAQ:SANM) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,578 shares of the electronics maker’s stock, valued at approximately $519,000.

Several other large investors have also recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Sanmina by 108.4% in the 2nd quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock worth $33,000 after buying an additional 257 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock worth $56,000 after buying an additional 164 shares in the last quarter. Innealta Capital LLC bought a new stake in Sanmina in the 2nd quarter worth about $116,000. CWM LLC increased its holdings in Sanmina by 40.5% in the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock worth $122,000 after buying an additional 513 shares in the last quarter. Finally, KBC Group NV increased its holdings in Sanmina by 25.5% in the 3rd quarter. KBC Group NV now owns 1,811 shares of the electronics maker’s stock worth $124,000 after buying an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Sanmina Trading Down 0.9 %

Sanmina stock opened at $76.96 on Friday. The business has a 50-day simple moving average of $69.97 and a two-hundred day simple moving average of $68.57. The company has a market cap of $4.21 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.32 and a beta of 0.89. Sanmina Co. has a 52-week low of $48.58 and a 52-week high of $86.05. 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 posted its quarterly earnings data on Monday, November 4th. The electronics maker reported $1.43 earnings per share for the quarter, beating 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 analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm earned $1.20 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts predict that Sanmina Co. will post 4.84 EPS for the current year.

Wall Street Analysts Forecast Growth

SANM has been the subject of several research analyst reports. StockNews.com upgraded Sanmina from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Craig Hallum boosted their price target on 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.