First Horizon Advisors Inc. purchased a new stake in shares of Sanmina Co. (NASDAQ:SANM – Get Rating) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,177 shares of the electronics maker's stock, valued at approximately $128,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in Sanmina by 243.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,430 shares of the electronics maker's stock worth $99,000 after buying an additional 1,722 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Sanmina by 580.5% during the second quarter. Victory Capital Management Inc. now owns 562,921 shares of the electronics maker's stock worth $22,928,000 after purchasing an additional 480,196 shares during the period. SG Americas Securities LLC grew its stake in shares of Sanmina by 148.2% in the second quarter. SG Americas Securities LLC now owns 18,032 shares of the electronics maker's stock worth $734,000 after purchasing an additional 10,766 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Sanmina by 5.3% in the second quarter. Russell Investments Group Ltd. now owns 24,548 shares of the electronics maker's stock valued at $998,000 after purchasing an additional 1,245 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in Sanmina during the 2nd quarter worth $117,000. 95.68% of the stock is currently owned by institutional investors.
Get Sanmina alerts:Insider Buying and Selling
In other Sanmina news, CEO Jure Sola sold 119,550 shares of the company's stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $50.33, for a total transaction of $6,016,951.50. Following the transaction, the chief executive officer now owns 917,906 shares in the company, valued at $46,198,208.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.38% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have commented on SANM. Craig Hallum upped their price target on Sanmina from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, August 2nd. StockNews.com assumed coverage on Sanmina in a research note on Wednesday, October 12th. They issued a "strong-buy" rating on the stock.Sanmina Stock Up 2.8 %
Shares of NASDAQ:SANM opened at $54.22 on Monday. Sanmina Co. has a 1 year low of $35.36 and a 1 year high of $54.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 0.92. The business's 50-day moving average is $49.05 and its 200-day moving average is $44.78. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.06 and a beta of 0.94.
Sanmina (NASDAQ:SANM – Get Rating) last released its earnings results on Monday, August 1st. The electronics maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.19. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.88 billion. Sanmina had a net margin of 3.38% and a return on equity of 13.67%. Sanmina's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. Equities research analysts predict that Sanmina Co. will post 4.31 earnings per share for the current year.
Sanmina Profile
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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.
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