Franklin Resources Inc. Purchases 79,565 Shares of Sanmina Co. (NASDAQ:SANM)

Franklin Resources Inc. lifted its position in shares of Sanmina Co. (NASDAQ:SANM) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,319,768 shares of the electronics maker’s stock after purchasing an additional 79,565 shares during the quarter. Franklin Resources Inc. owned 2.41% of Sanmina worth $89,018,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SANM. Wilmington Savings Fund Society FSB bought a new stake in Sanmina in the 3rd quarter valued at $32,000. Northwestern Mutual Wealth Management Co. lifted its position in Sanmina by 24.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after acquiring an additional 164 shares in the last quarter. GAMMA Investing LLC lifted its position in Sanmina by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 931 shares of the electronics maker’s stock valued at $64,000 after acquiring an additional 437 shares in the last quarter. Innealta Capital LLC acquired a new stake in Sanmina in the 2nd quarter valued at $116,000. Finally, CWM LLC increased its stake in Sanmina by 40.5% in the 3rd quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after buying an additional 513 shares during the last quarter. 92.71% of the stock is owned by institutional investors.

Sanmina Stock Performance

NASDAQ SANM opened at $80.05 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.32 billion, a P/E ratio of 20.47, a P/E/G ratio of 1.35 and a beta of 0.91. Sanmina Co. has a 12-month low of $48.83 and a 12-month high of $86.05. The firm has a 50-day moving average price of $74.65 and a two-hundred day moving average price of $70.57.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. 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. StockNews.com upgraded shares of Sanmina from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st.

Sanmina 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.