Prescott Group Capital Management L.L.C. Makes New $3.87 Million Investment in Sanmina Corporation $SANM

Prescott Group Capital Management L.L.C. bought a new position in shares of Sanmina Corporation (NASDAQ:SANM) during the third quarter, Holdings Channel reports. The fund bought 18,000 shares of the electronics maker’s stock, valued at approximately $3,868,000.

Other hedge funds have also modified their holdings of the company. Danske Bank A S acquired a new position in shares of Sanmina in the 2nd quarter valued at $25,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Sanmina in the second quarter worth about $31,000. NewEdge Advisors LLC purchased a new position in shares of Sanmina in the second quarter worth approximately $32,000. N.E.W. Advisory Services LLC purchased a new position in shares of Sanmina in the second quarter worth approximately $36,000. Finally, MCF Advisors LLC increased its position in shares of Sanmina by 2,333.3% in the second quarter. MCF Advisors LLC now owns 146 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 140 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

Sanmina Stock Performance

Shares of SANM opened at $164.49 on Wednesday. The company has a market capitalization of $8.82 billion, a PE ratio of 17.43, a PEG ratio of 0.44 and a beta of 1.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.06 and a current ratio of 1.78. The company’s 50 day moving average price is $196.95 and its 200 day moving average price is $191.31. Sanmina Corporation has a 52 week low of $118.10 and a 52 week high of $288.68.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Sanmina from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. JPMorgan Chase & Co. lowered their price objective on shares of Sanmina from $275.00 to $260.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 28th. Weiss Ratings downgraded shares of Sanmina from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 18th. Finally, Wall Street Zen raised shares of Sanmina from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Sanmina has an average rating of “Hold” and a consensus target price of $198.33.

About Sanmina

Sanmina Corporation is an electronics manufacturing services and integrated manufacturing solutions provider headquartered in San Jose, California. The company works with original equipment manufacturers to design, engineer, manufacture, assemble, test, and distribute complex electronic and mechanical products.

Its capabilities include printed circuit board assembly, backplanes, cable and wire harnesses, enclosures, precision machining, optical and radio-frequency components, and complete systems integration.