Vanguard Group Inc. Boosts Stock Position in Sanmina Co. (NASDAQ:SANM)

Vanguard Group Inc. grew its holdings in Sanmina Co. (NASDAQ:SANM) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,108,722 shares of the electronics maker’s stock after buying an additional 130,797 shares during the quarter. Vanguard Group Inc. owned 0.13% of Sanmina worth $365,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC increased its position in shares of Sanmina by 12.1% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 223,136 shares of the electronics maker’s stock valued at $11,462,000 after buying an additional 24,000 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in shares of Sanmina in the fourth quarter valued at approximately $12,174,000. Quadrature Capital Ltd purchased a new stake in shares of Sanmina in the fourth quarter valued at approximately $1,124,000. Seven Eight Capital LP increased its position in shares of Sanmina by 95.4% in the fourth quarter. Seven Eight Capital LP now owns 10,510 shares of the electronics maker’s stock valued at $540,000 after buying an additional 5,131 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Sanmina by 50.4% in the fourth quarter. CIBC Asset Management Inc now owns 6,187 shares of the electronics maker’s stock valued at $318,000 after buying an additional 2,073 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total value of $230,837.04. Following the transaction, the executive vice president now owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Eugene A. Delaney sold 7,181 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $64.91, for a total transaction of $466,118.71. Following the transaction, the director now owns 100,887 shares of the company’s stock, valued at approximately $6,548,575.17. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alan Mcwilliams Reid sold 3,528 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $65.43, for a total value of $230,837.04. Following the transaction, the executive vice president now directly owns 37,651 shares in the company, valued at approximately $2,463,504.93. The disclosure for this sale can be found here. 3.09% of the stock is currently owned by corporate insiders.

Sanmina Stock Performance

NASDAQ SANM opened at $65.44 on Friday. The stock’s fifty day moving average is $65.33 and its two-hundred day moving average is $60.04. The firm has a market capitalization of $3.65 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 2.00. Sanmina Co. has a fifty-two week low of $43.40 and a fifty-two week high of $69.80.

Sanmina (NASDAQ:SANM) last released its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.21. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.88 billion. Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The firm’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. On average, research analysts anticipate that Sanmina Co. will post 4.86 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on SANM. Fox Advisors began coverage on Sanmina in a research report on Wednesday, March 6th. They set an “overweight” rating and a $80.00 price target for the company. Craig Hallum reiterated a “hold” rating and set a $62.00 price target on shares of Sanmina in a research report on Tuesday, April 30th. Finally, StockNews.com cut Sanmina from a “buy” rating to a “hold” rating in a research report on Thursday.

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.