Highland Capital Management LLC Invests $205,000 in Sanmina Co. (NASDAQ:SANM)

Highland Capital Management LLC purchased a new position in shares of Sanmina Co. (NASDAQ:SANM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,994 shares of the electronics maker’s stock, valued at approximately $205,000.

Several other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Sanmina by 108.4% in the second quarter. GAMMA Investing LLC now owns 494 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 257 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Sanmina by 24.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 845 shares of the electronics maker’s stock valued at $56,000 after purchasing an additional 164 shares during the period. Innealta Capital LLC acquired a new stake in Sanmina in the second quarter valued at $116,000. CWM LLC increased its holdings in Sanmina by 40.5% in the third quarter. CWM LLC now owns 1,781 shares of the electronics maker’s stock valued at $122,000 after purchasing an additional 513 shares during the period. Finally, Blue Trust Inc. increased its holdings in Sanmina by 70.1% in the second quarter. Blue Trust Inc. now owns 3,126 shares of the electronics maker’s stock valued at $194,000 after purchasing an additional 1,288 shares during the period. 92.71% of the stock is currently owned by institutional investors and hedge funds.

Sanmina Stock Performance

Shares of SANM opened at $67.50 on Monday. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.69 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89. The firm’s fifty day simple moving average is $67.60 and its two-hundred day simple moving average is $66.89. Sanmina Co. has a 12 month low of $43.40 and a 12 month high of $76.84.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, July 29th. The electronics maker reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. Sanmina had a net margin of 2.93% and a return on equity of 10.79%. The business’s revenue was down 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.37 EPS. As a group, analysts predict that Sanmina Co. will post 4.24 EPS for the current year.

Insider Buying and Selling at Sanmina

In other news, EVP Alan Mcwilliams Reid sold 8,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $68.85, for a total transaction of $585,225.00. Following the transaction, the executive vice president now owns 26,679 shares of the company’s stock, valued at $1,836,849.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Eugene A. Delaney sold 8,688 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $74.83, for a total transaction of $650,123.04. Following the transaction, the director now owns 92,199 shares of the company’s stock, valued at $6,899,251.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alan Mcwilliams Reid sold 8,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $68.85, for a total transaction of $585,225.00. Following the transaction, the executive vice president now directly owns 26,679 shares in the company, valued at $1,836,849.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,320 shares of company stock valued at $7,294,883. 3.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Sanmina from a “hold” rating to a “buy” rating in a report on Sunday, October 13th.

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.