Allspring Global Investments Holdings LLC Has $4.70 Million Stock Holdings in Sanmina Co. (NASDAQ:SANM)

Allspring Global Investments Holdings LLC increased its stake in shares of Sanmina Co. (NASDAQ:SANM) by 32.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,521 shares of the electronics maker’s stock after purchasing an additional 18,360 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.13% of Sanmina worth $4,696,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in Sanmina during the 4th quarter worth approximately $64,000. Delta Asset Management LLC TN acquired a new position in Sanmina in the 4th quarter valued at approximately $85,000. Quest Partners LLC acquired a new position in Sanmina in the 4th quarter valued at approximately $126,000. Blue Trust Inc. increased its position in Sanmina by 21.2% in the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock valued at $133,000 after acquiring an additional 428 shares during the period. Finally, TFO Wealth Partners LLC increased its position in Sanmina by 70,240.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,517 shares of the electronics maker’s stock valued at $181,000 after acquiring an additional 3,512 shares during the period. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

SANM has been the subject of several recent research reports. Craig Hallum restated a “hold” rating and issued a $62.00 price target on shares of Sanmina in a research report on Tuesday, April 30th. StockNews.com cut shares of Sanmina from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, Fox Advisors assumed coverage on shares of Sanmina in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $80.00 price objective on the stock.

Sanmina Trading Up 0.8 %

Shares of NASDAQ:SANM traded up $0.54 during trading on Tuesday, reaching $65.82. The stock had a trading volume of 10,242 shares, compared to its average volume of 445,314. The firm’s fifty day moving average is $65.63 and its 200 day moving average is $60.37. 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 52 week low of $43.40 and a 52 week high of $69.80. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.42 and a beta of 0.92.

Sanmina (NASDAQ:SANM) last posted its quarterly earnings data on Monday, April 29th. The electronics maker reported $1.30 EPS for the quarter, beating 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 net margin of 3.11% and a return on equity of 11.98%. The company’s quarterly revenue was down 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 EPS. As a group, equities analysts forecast that Sanmina Co. will post 4.86 EPS for the current fiscal year.

About Sanmina

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.